Supreme Cannabis Co Inc fka SPRWF

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Supreme Cannabis Announces Conversion of 8% Unsecured Convertible Debentures Due November 14, 2019

Source: PR Newswire (Canada)
TORONTO, Oct. 2, 2018 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSXV: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is pleased to announce that it will be giving notice to holders of its 8% unsecured convertible debentures originally due November 14, 2019 (the "Convertible Debentures") that such Convertible Debentures will be converted into common shares of Supreme Cannabis ("Shares") on or about November 6, 2018 (the "Conversion Date").

Under the terms of the indenture relating to the Convertible Debentures, Supreme Cannabis has the right at any time beginning on March 15, 2018 to convert all, but not less than all, of the principal amount and all accrued and unpaid interest of the Convertible Debentures at the conversion price set out therein if the volume weighted average price of the Shares for 10 consecutive trading days exceeds $2.10.

As of the date hereof, an aggregate principal amount of $7,030,000 and accrued interest of $496,787 was outstanding. The Convertible Debentures will be converted on the Conversion Date at a rate of 625 Shares for each $1,000 principal amount plus accrued and unpaid interest.

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