Liberty to offer an extension of maturity date to existing debenture holders
The Debentures were originally issued pursuant to a private placement offering, which closed on
Debentureholders who select the Extension Option will have the terms of their Debentures amended as follows:
(i) | the applicable per share conversion price at which the Debentures may be converted by the holders, in whole or in part, into common shares of the Company, will be reduced from CDN |
(ii) | the interest rate will be increased from 12% to 13% per annum; |
(iii) | the redemption price, being the price at which the Debentures may be redeemed for cash, will be reduced to 100% (expressed as a percentage of the principal amount to be redeemed) plus accrued and unpaid interest as of the date of any such redemption; and |
(iv) | the maturity date of the Debentureholders will be extended to |
Those Debenture holders who do not select the Extension Option or that make no selection by the applicable deadline of
About
Liberty is the cannabis provider committed to providing a high-quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale. For more information, please visit: www.libertyhealthsciences.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains certain forward-looking statements within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "believe", "plan", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements regarding the Extension Option and the sources of repayment of those Debentures tendered on
Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the medical marijuana industry in
The Canadian Securities Exchange does not approve or disapprove of the contents of this release.
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