Acreage Announces Completion of US$10 Million Private Placement – GlobeNewswire

NEW YORK, June 06, 2024 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage” or the “Company”) (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF), a vertically integrated, multi-state operator of cannabis cultivation and retailing facilities in the U.S., is pleased to announce that, further to its press release on June 5, 2024, the Company has completed its previously announced brokered private placement (the “Offering”) of 12,000 units (the “Units”) of the Company at a price of US$833.33 per Unit, for gross proceeds to the Company of US$10 million (the “Funded Amount”).

Each Unit consists of: (i) US$1,000 principal amount of non-recourse unsecured convertible ‎notes (the “Notes”), reflecting a 16.67% original issue discount‎, convertible into Class E subordinate voting shares of the Company (the “Fixed Shares”); ‎and (ii) Fixed Share purchase warrants (the “Warrants”) of the Company, representing 100% warrant coverage for 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.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the

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