Bhang Inc. (CNSX:BHNG) announced a non-brokered private placement of 30,769,231 subordinate voting shares at a price of CAD 0.065 per share for gross proceeds of CAD 2,000,000 on March 5, 2021.

On the same date, the company issued 10,386,577 subordinate voting shares for gross proceeds of CAD 675,127 in its first tranche. The tranche included participation from returning investor Plant-Based Investment Corp. (CNSX:PBIC) for 3,846,154 subordinate voting shares for CAD 250,000 to own 50.42% stake upon closing of first tranche. The shares issued are subject to hold period expiring on July 6, 2021.