GreenTec Holdings Ltd. (“GreenTec”) completed a private placement offering of 5,925,920 subscription receipts (the “Subscription Receipts”) at a price of $1.50 per Subscription Receipt for aggregate gross proceeds of $8,888,880 (the “Offering”). The Offering was led by PI Financial Corp and was completed in connection with a proposed business combination between GreenTec and Black Birch Acquisition III Corp. whereby the resulting entity will become a reporting issuer on the TSX Venture Exchange. Minden Gross LLP acted for GreenTec with a team led by Andrew Elbaz (Partner) – Securities and Capital Markets; Alexandra (Sasha) Toten (Associate) – Securities and Capital Markets; and Matt Maurer (Chair, Cannabis Law Group).
GreenTec Holdings Ltd. was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GreenTec is a private corporation based in Kelowna, BC. GreenTec is focused on growing premium quality craft cannabis in purpose-built indoor facilities. The Company currently holds more than 23,000,000 square feet of potential expansion capacity throughout Canada, holding a 100% interest in each of GreenTec Bio-Pharmaceuticals Corp., Grey Bruce Farms Inc., Zenalytic Laboratories Ltd., Falcon Ridge Naturals Ltd., Alberta Craft Cannabis Inc. (formerly Grenex Pharms Inc.), and Tumbleweed Farms Corp.