Cannabist Company Holdings (CBSTF) has released an update to notify the public and investors about an entry into a material definitive agreement.
On January 22, 2024, Cannabist Company Holdings Inc. entered into an agreement with certain note holders to repurchase up to $25 million of its senior secured convertible notes for common shares. The exchange includes an initial $5 million note transfer by January 31, 2024, with additional transfers contingent on stock prices and trading volumes through June 30, 2024. If all conditions are met and the full $25 million is exchanged, a maximum of 68,564,698 common shares will be issued. The company may also compel the holders to transfer notes if they fail to do so under the agreement terms.
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