NetworkNewsBreaks – Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Announces Completion of Debentures Conversion
Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis and hemp-branded products company in the United States, has completed its previously announced debenture conversion. The debenture, which was due on Feb. 28, 2024, was comprised of certain 12% secured debentures. The announcement noted that the debentures were converted following the terms of the first supplemental indenture, which was dated Feb. 25, 2021, and made between Plus Products and the Odyssey Trust Company. Specifically, the debentures were converted into 5,252,631 subordinate voting shares, which were issued at a conversion price of C$0.95 per share. An additional 20,005 debentures remain outstanding; those debentures, in the amount of C$20,005,000, are due to mature on Feb. 28, 2024. As a result of the completion, accrued interest up to the conversion date in the amount of C$118,096.66 was paid to holders of the debentures.
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