SAN MATEO, Calif., April 06, 2021 (GLOBE NEWSWIRE) — Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”), a cannabis and hemp branded products company in the U.S., is pleased to announce that further to its press releases dated February 25, 2021 and March 25, 2021, it has completed the previously announced conversion of certain 12.00% secured debentures due February 28, 2024 (the “Debentures”).
Debentures in the aggregate principal amount of CAD$4,990,000 (4,990 Debentures) were converted by the Company in accordance with the terms of the first supplemental indenture dated February 25, 2021 between the Company and Odyssey Trust Company (the “Supplemental Indenture”). The Debentures were converted into 5,252,631 Subordinate Voting Shares issued from treasury at a conversion price of CAD$0.95 per share. In addition, accrued interest up to the conversion date in the aggregate amount of CAD$118,096.66 was paid to the former holders of the Debentures subject to conversion.
Debentures in the principal amount of CAD$20,005,000 (20,005 Debentures) remain outstanding and due to mature on February 28, 2024. For additional details of the Debentures, please refer to the Company’s indenture dated February 28, 2019, as supplemented by the Supplemental Indenture and the Company’s press releases dated February 25, 2021 and March 25, 2021.
PLUS is a cannabis and hemp food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA.
For further information contact:
CEO & Co-founder
Tel +1 213.282.6987
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