Red White & Bloom Brands Refinances Approximately US $19 Million of Short-Term Debt to January 2023
TORONTO, Sept. 27, 2021 (GLOBE NEWSWIRE) — Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) is pleased to announce that it has completed a refinancing of an aggregate principal amount of US $18,620,000 debentures (plus accrued interest to September 1, 2021) previously issued to an arm’s-length investor (collectively, the “Prior Debentures”).
The Prior Debentures were replaced with a new debenture (the “New Debenture”) in the principal amount of US $19,370,020. The New Debenture is unsecured, bears interest at the rate of 10% per annum, which accrues and is payable on the maturity date of January 21, 2023. The New Debenture is payable in full on a change of control.
About Red White & Bloom Brands Inc.
The Company is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major US markets, including Michigan, Illinois, Florida, Massachusetts, Arizona and California with respect to cannabis, and the US and internationally for hemp-based CBD products.
For more information about Red White & Bloom Brands Inc., please contact:
Brad Rogers, CEO and Chairman
Tyler Troup, Managing Director
Circadian Group IR
Visit us on the web: https://www.redwhitebloom.com/
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Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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