Company Overview

Company name: Phantom Farms
Description: Manufacturer of cannabis. The company is engaged in the manufacture and cultivation of cannabis and operates a 5,000-square foot indoor facility, which includes a wholesale distribution warehouse and an extraction laboratory located onsite. It also cultivates 80,000 square feet of cannabis in the famous Rouge Valley, in Southern Oregon.
Year founded: 2008
Parent company:
Industry: Healthcare | Group: Other Healthcare | Code:
Website: www.phantom-farms.com
Employees: 45
City: Bend
State: Oregon
Country: United States
Region: Americas

Financial Highlights

Start up capital raised (USD Million):
Business status: Generating Revenue
Ownership: Privately Held (no backing)
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Gross profit (USD Million):
Net income (USD Million)
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Financing Status: The company reached a definitive agreement to be acquired by C21 Investments (CSE: CXXI) for $29.52 million on June 21, 2018. The consideration of $16.02 million will be paid by way of a non-interest bearing, convertible promissory note, convertible into 5,340,000 commons shares at a conversion price of USD$3 per common share. Of the total consideration, $3 million of the note will be convertible into 1,000,000 common shares on closing of a definitive agreement, $5.01 million of the note is convertible into 1,670,000 common shares 18 months from the closing and $8.01 million of the note is convertible into 2,670,000 common shares 24 months from the closing. The consideration also includes an additional consideration of 4,500,000 common shares at a deemed price of $3 per share upon achieving certain earn-out performance targets.
Number of active investors:
Profile last updated: 17-Sep-2018
Last known valuation: 29.52
Last known valuation date: 21-Jun-2018