Alpha Blue Ocean (“ABO”) Announces $9.5 Million Funding Agreement with TransCanna Holdings (TCAN)
NASSAU, Bahamas–(BUSINESS WIRE)–ABO, a family office founded by Pierre Vannineuse and a pioneer in alternative finance worldwide, is proud to support TransCanna’s growth initiatives with the recent financing agreement of up to $9.5 million in convertible debentures .
ABO’s financing facility, which will be used at TransCanna’s option, allows the company to access capital as needed to supplement its recent $15.8 million debt financing from Pelorus Equity Group. The net proceeds will be used primarily for the purposes of refinancing and developing the Company’s property to achieve greater production capacity, with the goal of achieving positive cash flow upon completion.
Amine Nedai, CEO of Alpha Blue Ocean
“ABO is delighted to enter into this transaction with TransCanna to help fund the company’s exciting growth trajectory. We look forward to supporting the TransCanna team and participating in what will be a recapitalized company with strong management and financial partners behind it. and industry headwinds, ABO continues to support listed small and medium-sized companies by providing flexible and innovative financing solutions.”
Bob Blink, CEO of TransCanna
“The success of the business has always been intrinsically linked to the company’s ability to increase its production capacity. achieve this goal. When the company is on a solid foundation of positive cash flow after construction, we will have achieved the initial stability we are heading towards and will be very well positioned for the next stage of growth with our new financial partners. .”