ICC International Cannabis Corp. (CNSX:WRLD.U) announced a non-brokered private placement of 2,500 unsecured convertible debentures at a price of CAD 1,000 for gross proceeds of CAD 2,500,000 on September 24, 2019. The debentures are issued at par. The debentures will mature after two years from the date of closing of the transaction. The debentures will bear an interest at a rate of 8% per annum, payable bi-annually in arrears on March 30 and September 30. The debentures may be convertible into common shares of the company at a conversion price based on a 15% discount of the shares calculated by using the volume weighted average closing share price on the 30 days prior to receiving notice of conversion. All the securities issued are subject to a statutory four-month and one day hold period from the date of issuance of the debentures.