NetworkNewsBreaks – Cannabis Global (CBGL) Repay
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Posted On: 08/13/2020 4:18:34 PM
NetworkNewsBreaks – Cannabis Global (CBGL) Repays, Retires Convertible Notes in Strategic Moves to Impact Balance Sheet
Cannabis Global (OTC: CBGL), a cannabinoid and hemp-extract, science-forward company developing infusion and delivery technologies, has announced the retirement of convertible debt, along with additional moves designed to positively restructure the company’s debt obligations. The convertible notes — three in all — represented a total principle value of $178,500; the company also signed an agreement to finance the payoff of a fourth note. These strategic steps are designed to have a marked positive impact on CBGL’s balance sheet for the fiscal year ending Aug. 31, 2020. “The funds we raised from convertible notes earlier this year were used wisely to jump-start the development of what we believe to be the most robust set of cannabinoid infusion technologies in the marketplace,” said Cannabis Global CEO Arman Tabatabaei in the press release. “As a result, we were able to file six provisional patents, develop several new technologies, which we are classifying as trade secrets, and develop multiple new products based on our IP accomplishments.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Cannabis Global (OTC: CBGL), a cannabinoid and hemp-extract, science-forward company developing infusion and delivery technologies, has announced the retirement of convertible debt, along with additional moves designed to positively restructure the company’s debt obligations. The convertible notes — three in all — represented a total principle value of $178,500; the company also signed an agreement to finance the payoff of a fourth note. These strategic steps are designed to have a marked positive impact on CBGL’s balance sheet for the fiscal year ending Aug. 31, 2020. “The funds we raised from convertible notes earlier this year were used wisely to jump-start the development of what we believe to be the most robust set of cannabinoid infusion technologies in the marketplace,” said Cannabis Global CEO Arman Tabatabaei in the press release. “As a result, we were able to file six provisional patents, develop several new technologies, which we are classifying as trade secrets, and develop multiple new products based on our IP accomplishments.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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