C21 Investments Inc announces non-brokered private placement of secured convertible debenture units for gross proceeds of CAD 4,000,000 on March 15, 2024. Each Convertible Debenture Unit will consists of one convertible debenture of the Company secured against the Nevada operations of the Company in the principal amount of CAD 1,000 and 1,000 detachable Common Share purchase warrants. Each Warrant exercisable for one Common Share at a price of CAD 0.55 per share for a period of 30 months from the issue date of the Convertible Debenture Units.

The convertible debentures bear a interest rate of 12%, payable quarterly and will mature on the date that is 30 months from the Issue Date. The debentures can be convertible into common shares at a conversion price of CAD 0.45 per common share.