CannaOne Secures Formal Commitments of $500K Financing to Achieve Near-Term Objectives

Published: April 26, 2019

CannaOne Technologies has officially secured all formal commitments needed to fund a non-brokered private placement of CDN$500,000 with a price per Unit of CDN$0.56 issuing a total of 892,857 units on April 23, 2019, subject to the investment terms as previously announced on April 11, 2019.

“We’re pleased to announce that we have secured formal commitments of $500,000. We have strategically committed to raising this amount with the understanding that we have some major business objectives to achieve in the near future. We’re also delighted about the strategic investors that are participating in this private placement,” said Solomon Riby-Williams, CEO.

“Upon the final closing, CannaOne intends to then immediately utilize the net proceeds from the Offering to undertake the near-term deployment and launch of our proprietary software in support and operation of our online marketplace partnerships in the United States and Mexico, while we continue to dedicate and engage further efforts towards additional network expansion, corporate branding and marketing and general business development initiatives.”

CannaOne has developed Bloomkit, the first product in the Bloom Product Suite; a turnkey enterprise software solution that can be utilized by any B-to-C cannabis company. Inherent functionalities ensure its users the highest levels of on-going customer satisfaction while the adaptability of Bloomkit, gives clients the ability to operate and satisfy regulatory environments of any governing body around the World, truly affording CannaOne the opportunity to serve an overall base of global clientele with a software suite that sits at the forefront of the industry. The Bloom Product Suiteā„¢ is representative of complete data driven and design focused software solutions that contain diverse system architectures and provide intelligent, machine learning that will give clients detailed industry business insights and ultimately lead to the creation and management of predictive content and product recommendation engines.