Quinsam Capital (CSE:QCA) announced it reached an agreement to invest in Osoyoos Cannabis.
As quoted in the press release:
The planned $262,500 investment in Osoyoos will include a 3-year 10% convertible debenture as well as warrants. Quinsam will also obtain an arrangement fee payable in shares of Osoyoos. Closing of the investment is expected in the near term. Quinsam expects Osoyoos to seek a stock exchange listing in the coming months.
“While Osoyoos is not as advanced as some other ACMPR applicants, the valuation at which our investment has been made is reflective of that fact. We think that the Osoyoos team together with the relationship with the OIB and the advantages inherent in being an Aboriginal Applicant will allow Osoyoos to be successful” said Roger Dent.