SANDY, UT / ACCESSWIRE / August 25, 2022 / Accredited Solutions, Inc, formerly Good Hemp, Inc. (OTC:GHMP), is pleased to announce that it has entered into a $5,000,000 equity financing agreement with MacRab, LLC (“MacRab”) (“Equity Facility”) embodied in a Standby Agreement Investment Agreement (the “Investment Agreement”) and a related Registration Rights Agreement (the “Registration Agreement”). The equity facility has a maximum term of 24 months. Pursuant to the terms of the registration agreement, a registration statement on Form S-1 will be filed with the SEC to register the common shares that may be issued in connection with this equity facility.
“We believe our equity facility with MacRab will provide us with a stable platform that not only allows us to raise capital that we need to execute our business opportunities, but also allows us to allocate that capital in a flexible and opportunistic manner to minimize dilution for our shareholders,” said Douglas Martin, interim CEO of Accredited Solutions. “Since I joined the company, the board has mandated us to move from debt financing to an equity-based model and our agreement with MacRab is certainly a nice first step in that direction.”
The equity facility announcement follows the Company’s previously announced marketing consulting agreement with Spire+, a leading sales and marketing agency specializing in brand building and tasked with identifying markets for the Company’s herbal cleaning/degreasing products, PetroXstream, and to tap intoTMfor industrial applications and EnviroXstreamTMfor non-industrial applications.
A complete and detailed description of the investment agreement and further details of the equity facility are contained in the company’s current report on Form 8-K filed with the SEC today. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and no…
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