Dynaleo Inc. completes $7 million debenture financing
EDMONTON, April 8, 2020 /CNW/ - Dynaleo Inc. ("Dynaleo"), an Edmonton, AB based manufacturer of cannabis infused adult chews is pleased to announce that it has completed a $7 million offering of convertible debentures. "Completing this financing in the current environment is a testament to the strength and capabilities of our organization and the attractiveness of our business model", said Dynaleo Executive Chairman Michael Krestell. "It validates our ability to achieve our strategic objectives and the tremendous opportunity that lies ahead of us."
Our financial partners Cassidy Fund 1 LP continued to support Dynaleo by adding an additional $1 million in this round to its existing investment.
"We have completed construction of our purpose built high-volume manufacturing facility and have submitted our Standard Processing License application to Health Canada. Additionally, we are in advanced negotiations with a number of Canadian Licensed producers to bring Dynaleo manufactured products to market when we are licensed to do so", continued Krestell.
"Cannabis edibles and specifically soft chews have regularly been sold out since the launch of cannabis 2.0. At full capacity, Dynaleo can produce in excess of 400 million individual CBD and THC infused pieces, in almost any size, shape, consistency and flavour. We are well positioned as a highly desirable co-manufacturing partner to industry participants, and a meaningful contributor to the growth of the cannabis edibles market."
About Dynaleo
Dynaleo is an Edmonton, Alberta-based manufacturer of cannabis infused adult chews. Our purpose-built manufacturing plant contains highly specialized production equipment capable of producing in excess of 400 million individual CBD and/or THC pieces per year. Infused edibles enable consumers to use cannabis-based products without exposure to negative effects associated with inhalation. Dynaleo can customize CBD and/or THC infused adult chews in a wide range of flavours, textures, colours, shapes and sizes to meet our customer's needs and regulatory requirements.
SOURCE Dynaleo
Dynaleo Inc., Michael Krestell, Executive Chairman, Telephone: 647-274-3655, Email: [email protected], Website: www.dynaleo.com
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