Medicine Man Technologies (SHWZ) has issued an announcement.
Nuevo Holding, LLC, a subsidiary of Medicine Man Technologies, Inc., amended its promissory note, committing to a $1.7 million payment by February 2025, with subsequent repayments linked to financial covenants and other loan agreements. Concurrently, the company and PBS Holdco, LLC revised the Altmore Loan Agreement, extending its maturity date to November 2025, lowering quarterly principal payments, and introducing a quarterly administrative fee. Both amendments maintain their original interest rates of 5% and 15%, respectively, with notable payments and fees set to begin in June 2024.
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