NetworkNewsBreaks – The Supreme Cannabis Company
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Posted On: 09/01/2020 3:55:04 PM
NetworkNewsBreaks – The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) Announces ‘Extraordinary Resolution,’ Amendments to Debenture Terms
The Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF), a Canadian cannabis company committed to identifying new opportunities to grow and strengthen its impressive portfolio, has obtained approval from debentureholders to partially convert and amend debentures. The company announced that holders of its outstanding 6% senior unsecured convertible debentures have approved an “extraordinary resolution” outlining amendments to the terms of the debentures, which were issued in October 2018. In part, those amendments include a reduction of the total principal amount of debentures outstanding from $100 million to $36.5 million; an extension of the maturity date of the debentures from October 19, 2021, to the date that is five years plus one day from the defined closing date, unless repurchased, redeemed or converted prior to maturity; and a reduction of the conversion price of the debentures from $2.45 per share to $0.285 per share.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
The Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF), a Canadian cannabis company committed to identifying new opportunities to grow and strengthen its impressive portfolio, has obtained approval from debentureholders to partially convert and amend debentures. The company announced that holders of its outstanding 6% senior unsecured convertible debentures have approved an “extraordinary resolution” outlining amendments to the terms of the debentures, which were issued in October 2018. In part, those amendments include a reduction of the total principal amount of debentures outstanding from $100 million to $36.5 million; an extension of the maturity date of the debentures from October 19, 2021, to the date that is five years plus one day from the defined closing date, unless repurchased, redeemed or converted prior to maturity; and a reduction of the conversion price of the debentures from $2.45 per share to $0.285 per share.
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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