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Eight Capital to invest a further C$2M in Emblem

Emblem Corp. said Eight Capital will now invest C$12 million in the company as opposed to C$10 million previously.

The investment firm will purchase 6,857,160 units at C$1.75 apiece to help raise C$12 million. It will lend a further C$15 million via the purchase of 15,000 unsecured debentures.

The fund will help Emblem construct a production facility in Paris, Ontario, that would address the adult recreational market in Canada upon legalization of marijuana.

The offering is expected to close on Nov. 7 and is subject to customary closing conditions.