Lowell Farms Inc. announced that it expects to receive $18 million in funding from Beehouse, LLC and other investors
August 26, 2021
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Lowell Farms Inc announced a non-brokered private placement of 18,000,000 units at issue price of $1 per unit for gross proceeds of $18,000,000 led by new investor Beehouse Partners, LP, a fund managed by Beehouse, LLC on August 27, 2021. The transaction will include participation from certain officers and directors of the company for 2,900,000 units. Each unit will consist of one subordinate voting share and one-half of one of common share purchase warrant. Each warrant entitles the holder to acquire company share for a period until August 30, 2024, at an exercise price of $1.40 per warrant share, subject to adjustment in certain circumstances. The transaction has been approved by the board of directors of the company.
Lowell Farms Inc. is a cannabis company with vertically integrated operations, including cultivation, extraction, processing, manufacturing, branding, packaging and wholesale distribution to retail dispensaries. The Company manufactures and distributes proprietary and select third-party brands throughout the State of California. It also provides manufacturing, extraction and distribution services to select third-party cannabis and cannabis branding companies and sells proprietary bulk flowers and brokers third-party bulk flowers to licensed distribution and manufacturing companies in California. Its brands include Lowell Smokes, Lowell Herb Co, House Weed, Kaizen, Moon, Original Pot Company, Flavor Extracts, Humble Flower and Cypress Cannabis. The Company operates approximately 40,000-square-foot of processing facility, a 15,000-square-foot manufacturing and laboratory facility in Salinas, California, and laboratory facility in Salinas, California, and others.
LOWELL FARMS INC. 
