CPE News (8/18/2021) – Primetime Holdings Inc. has filed a preliminary prospectus qualifying the distribution of 1,288,077 Subordinate Voting Shares, issuable for no additional consideration upon conversion of previously-issued debentures.
Primetime Holdings has applied to list its Subordinate Voting Shares on the Canadian Securities Exchange (CSE).
Venice, California based Primetime Holdings Inc. through its subsidiaries, currently operates in the U.S. cannabis space as a vertically integrated California based cannabis company with operations including large-scale distribution (including biomass trading), tolling, manufacturing and retail dispensary operations in California, with planned future operations in Massachusetts. PrimeTime manufactures packaged flower, pre-rolls and vape products for sale. PrimeTime has two facilities in California to meet its business needs and has a distribution network that services a large portion of the California dispensary market, selling its own branded products, agency products as well as third-party products.
Primetime Holdings was incorporated under the laws of the Province of British Columbia under the name “Spinel Capital Ltd.”
On March 12, 2021, Spinel Capital changed its name to Primetime Holdings Inc. following the acquisition of PrimeTime Holdings, Inc. from Gregory Crowe, Max Albert and others for $75 million through the issuance of 750,000 Multiple Voting Shares priced at $100.
Primetime Holdings Inc. has since completed three tranches of a private placement financing comprising of secured convertible debentures raising CDN $29.9 million.
Primetime Holdings Inc. currently has 35,351,026 Subordinate Voting Shares (assuming conversion of debentures) and 750,000 Multiple Voting Shares.
photo credit: Primetime Holdings Inc.