12:32 PM EST, 02/03/2025 (MT Newswires) -- Simply Solventless Concentrates ( SSLCF ) Monday it is upsizing a non-brokered secured convertible-debenture unit financing to $6 million from $5 million.

In addition, the company received approval to complete the acquisition of Delta 9 Bio-Tech,. The company expects to close the acquisition of Bio-Tech on or about Feb. 7.

"To date, SSC has received approximately $8 million of indicative demand for the offering," said chief executive Jeff Swainson. "SSC has an acquisition payment of $2.25 million due in connection with the anticipated closing of Bio-Tech on or about February 7, 2025, and a further acquisition payment of $4.0 million due on May 31, 2025, in connection with the acquisition of ANC Inc. that previously closed in October 2024. Barring any unforeseen strategic or operational initiatives, the over subscription of the offering to $6.0 million allows SSC to fund these acquisition payments without conducting further financing."

The company's shares were last seen down $0.04 to $0.71 on the TSX Venture Exchange.

Price: 0.71, Change: -0.04, Percent Change: -5.33