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C21 Investments Inc.: C21 Announces Divestment of Non-Core Assets in Oregon
Vancouver, British Columbia (Newsfile Corp. - January 7, 2021) - C21 Investments Inc. (CSE: CXXI
) (OTCQX: CXXIF) ( C21 or the Company ), a leading vertically integrated cannabis company, today announces the divestment of select non-core assets in Oregon and provides an update on convertible debenture conversion, including C$4.7 million in funds to the Company on warrants exercised. (All currency is in U.S. dollars unless otherwise noted.
)
C21 has signed a definitive agreement for the sale of select non-core assets in Oregon, currently under third-party management agreements as outlined in the press release dated August 4, 2020, for $1.3 million. These assets include the Company s Portland processing equipment, the Dab Society brand, a retail and wholesale license, including the assumption of respective leases. The Company has received a $300,000 cash down payment with an additional $200,000 to be pai