Hygrovest Limited (ASX: HGV) ("HGV”) is an Australian-listed specialist investment company which concentrates on producing capital growth for shareholders over the medium term from investments in listed and unlisted equities and debt securities.
HGV exercises right to convert CAD1m of its convertible note into shares in Weed Me Inc (“Weed Me”).
HGV has converted CAD1m of its unsecured convertible note into 598,802 Weed Me shares at the contracted conversion price of CAD1.67 per share. As at 31 March 2023 HGV had ascribed to Weed Me shares a valuation of CAD2.06 per share, making it attractive to convert at a material discount to that valuation.
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