05:27 PM EDT, 06/06/2024 (MT Newswires) -- Acreage Holdings (CSE: ACRG.A.U, ACRG.B.U), a U.S. cannabis producer and retaler, after trade Thursday said it completed a brokered private placement of 12,000 units at a price of US$833.33 per Unit, for gross proceeds of US$10 million.

Each unit was made up a US$1,000 unsecured convertible notes, reflecting a 16.67% original issue discount, convertible into Class E subordinate voting shares of the company and fixed share purchase warrants of the company, representing 100% warrant coverage for the funded amount.

ATB Securities Inc. acted as agent in connection with the Offering.

The company will deposit the net proceeds of the offering in a segregated account and intends to use the same for working capital and general corporate purposes.