Jacksam Corporation announced that it has entered into a Common Stock Purchase Agreement and a Common Stock Purchase Warrant Agreement to issue common shares amounting $1,000,000 and warrants amounting $500,000; for the gross proceeds of $1,500,000 on June 15, 2021. The transaction will include participation from new investor Triton Funds, LP. The transaction is expected to complete in multiple tranche in which each tranche expected up to $250,000 each, starting in the third fiscal quarter of the company.

The warrants can be exercised in to 909,091 shares at an exercise price of $0.55 per share, subject to customary adjustments including subsequent dilutive issuances by the company. The securities issued in the transaction are exempt from registration pursuant to section 4(a)(2) of the Securities Act of 1933.