LOS ANGELES- Blueberries Medical Corp, a Latin American producer of medicinal cannabis and cannabis-derived products, has announced a non-brokered private placement, raising approximately C$1.05 million (US$740,000). The financing involved the sale of 96,064,935 common shares at C$0.011 per share and is expected to close around March 25, 2025.
The proceeds are intended to fund operational expansion and for general corporate purposes. The placement is led by Terraflos Inc., a company with Latin American operations founded by Facundo Garreton, who serves as Blueberries’ Chairman, CEO, and director. Terraflos is exploring opportunities in Argentina, Mexico, and Brazil, aiming to expand into these markets shortly. mately 61.23% of Blueberries’ outstanding common shares on a partially diluted basis. Following the transaction, his holdings increased to about 62.67%. This participation is considered a “related party transaction” under Multilateral Instrument 61-101, but the company has stated that it is exempt from formal valuation or minority shareholder approval requirements in this context.
Blueberries Medical Corp. operates primarily in the Bogotá Savannah of central Colombia, focusing on the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis products.
