James E. Wagner Cultivation Announces Closing of $1.2 Million Convertible Security under Second Funding Agreement With Lind Global Macro Fund, LP

Published: March 20, 2020

James E. Wagner Cultivation Announces Closing of $1.2 Million Convertible Security under Second Funding Agreement With Lind Global Macro Fund, LP

James E. Wagner Cultivation Corporation  announce that on March 16, 2020 (the “Closing Date”), it received CDN$1.2 million (the “Convertible Security”) from Lind Global Macro Fund, LP, an entity managed by The Lind Partners (together, “Lind”), pursuant to the convertible security funding agreement dated March 10, 2020 (the “CSA”) between JWC and Lind. In addition, on the Closing Date, JWC issued Lind 4,616,123 warrants (the “Warrants”) to purchase common shares of JWC, exercisable until March 16, 2022 at an exercise price of CDN$0.13 ‎per common share. The Warrants are subject to a four month hold period in accordance with applicable Canadian securities laws. JWC intends to use the proceeds of the Convertible Security for general working capital purposes.

Additional information regarding the terms and conditions of the Convertible Security and the CSA can be found in the news release of the Company dated March 11, 2020.

As of the Closing Date, JWC granted Lind a security interest in all current and after acquired property of the Corporation and its subsidiaries, subject to certain permitted liens, which security is subordinated to Trichome Financial Corp.’s security interest. James E. Wagner Cultivation Ltd. and GrowthStorm Inc., the Corporation’s direct wholly-owned subsidiaries, are guarantors of the obligations of the Corporation under the CSA.

James E. Wagner Cultivation Corporation’s wholly owned subsidiary is a Licensed Producer under the Cannabis Regulations, formerly the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis using an advanced and proprietary aeroponic platform named GrowthSTORM™. JWC began as a collective of patients and growers under the Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best possible patient experience. JWC is a family-founded company with deep roots planted in the local community. JWC’s operations are based in Kitchener, Ontario. Learn more at www.jwc.ca.