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Aleafia Health Announces In-Kind Payment of Interest on Secured Convertible Debentures
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Aleafia Health Inc. has announced that it will be paying interest in-kind on its Series A, B, and C secured debentures. Holders of debentures as of June 19, 2023, will receive additional debentures as payment of accrued interest. Trading in the debentures will be halted on June 22, 2023, and will resume on June 23, 2023, on an ex-distribution basis.
Positive
Aleafia Health will be paying interest in-kind on its debentures, which could positively impact investor sentiment.
Negative
Trading in the debentures will be halted temporarily, which may negatively affect short-term trading activity.
TORONTO, June 22, 2023 (GLOBE NEWSWIRE) -- Aleafia Health Inc. (TSX: AH, OTCQB: ALEAF) (“Aleafia Health” or the “Company”) announces that it is electing to pay interest in-kind on its (a) 8.50% Series A Secured Debentures Due June 30, 2024 (the “Series A Debentures”), (b) 8.50% Series B Secured Debentures Due June 30, 2026 (the “Series B Debentures”), and (c) 8.50% Series C Secured Convertible Debentures Due June 30, 2028 (the “Series C Debentures” and, collectively with the Series A Debentures and the Series B Debentures, the “Debentures”).
On June 30, 2023, holders of Debentures as of June 19, 2023 (the “Record Date”) will be issued additional Debentures in payment of accrued interest equal to $42.50 per every $1,000 in Debentures held as of the Record Date. As the Record Date has passed, trading in the Debentures will be halted by the Toronto Stock Exchange at the opening on Thursday, June 22, 2023 and will resume trading at the opening on Friday, June 23, 2023 on an ex-distribution basis.
The Company is a federally licensed Canadian cannabis company offering cannabis products in Canadian adult-use and medical markets and in select international markets, including Australia and Germany. The Company operates a virtual medical cannabis clinic staffed by physicians and nurse practitioners which provide health and wellness services across Canada.
The Company owns three licensed cannabis production facilities and operates a strategically located distribution centre all in the province of Ontario, including the largest, outdoor cannabis cultivation facility in Canada. The Company produces a diverse portfolio of cannabis and cannabis derivative products including dried flower, pre-roll, milled, vapes, oils, capsules, edibles, sublingual strips and topicals.
FAQ
What is Aleafia Health Inc. announcing?
Aleafia Health Inc. is announcing that it will be paying interest in-kind on its debentures.
When will holders of debentures receive additional debentures?
Holders of debentures as of June 19, 2023, will receive additional debentures as payment of accrued interest.
What will happen to trading in the debentures?
Trading in the debentures will be halted on June 22, 2023, and will resume on June 23, 2023, on an ex-distribution basis.
aleafia health is an industry leading, vertically integrated and federally licensed canadian cannabis company offering cannabis health and wellness services and products in canada and in international markets. the company operates medical clinics, education centres and production facilities for the production and sale of cannabis. aleafia health owns three significant licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in canadian history. the company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules and sprays. aleafia health operates the largest national network of medical cannabis clinics and education centres staffed by mds, nurse practitioners and educators and operates internationally in three continents.
