10:21 AM EST, 01/28/2025 (MT Newswires) -- Simply Solventless Concentrates ( SSLCF ) was down more than 3% early Tuesday -- albeit from near 52 week high levels -- as the company launched a non-brokered private placement financing of up to 5,000 secured convertible debenture units at $1,000 per debenture unit, for proceeds of up to $5 million, inclusive of a $3 million lead order from institutional investor Plaza Capital.

A statement noted proceeds of the financing are expected to fund the purchase price of the prior announced acquisition of all of the issued and outstanding shares of Delta 9 Bio-Tech, expected to close in early February. The company also expects record monthly revenue in January 2025 of about $4.5 million, excluding the Bio-Tech revenue.

"SSC's near-term product launches are a testament to SSC's vigilant focus on providing a suite of cannabis products that are among the highest quality available in Canada today," said Simply Solventless Chief Executive Jeff Swainson.

Shares were last seen down $0.03 at $0.78 in early morning trade on the TSX Venture Exchange.

Price: 0.78, Change: -0.03, Percent Change: -3.70