$SFWJ/MedCana Will Eliminate All Convertible Debt
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Posted On: 08/15/2024 1:53:00 PM
$SFWJ/MedCana Will Eliminate All Convertible Debt by the End of the 3rd Quarter
https://www.accesswire.com/901342/sfwjmedcana...rd-quarter
$450,000 of convertible debt being eliminated
AUSTIN, TX / ACCESSWIRE / August 15, 2024 / SFWJ, doing business as Medcana, a holding company focused in the cannabis and agricultural technology sectors, is pleased to announce all Convertible Debt on the Company's Balance sheet will be eliminated and reported in the 3rd Quarter Financial Report.
As the Company prepares to enter its next growth phase, the debtholders worked out a deal to swap the debt for Preferred shares with the same rights and interest rate to boost investor confidence. After being issued the preferred shares, the debtholders agreed to a 6-month lock-up agreement.
Gabriel Diaz, CEO of MedCana, reaffirmed the company's commitment to its shareholders, stating, "Our goal is to build a strong company focusing on revenue and, most importantly, enhanced shareholder value. We want our shareholders to invest with confidence, knowing they will not have to worry about any debt conversion hindering the value of their shares."
https://www.accesswire.com/901342/sfwjmedcana...rd-quarter
$450,000 of convertible debt being eliminated
AUSTIN, TX / ACCESSWIRE / August 15, 2024 / SFWJ, doing business as Medcana, a holding company focused in the cannabis and agricultural technology sectors, is pleased to announce all Convertible Debt on the Company's Balance sheet will be eliminated and reported in the 3rd Quarter Financial Report.
As the Company prepares to enter its next growth phase, the debtholders worked out a deal to swap the debt for Preferred shares with the same rights and interest rate to boost investor confidence. After being issued the preferred shares, the debtholders agreed to a 6-month lock-up agreement.
Gabriel Diaz, CEO of MedCana, reaffirmed the company's commitment to its shareholders, stating, "Our goal is to build a strong company focusing on revenue and, most importantly, enhanced shareholder value. We want our shareholders to invest with confidence, knowing they will not have to worry about any debt conversion hindering the value of their shares."
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