Green Growth Brands Inc (GGBXF)

[sav79]

Schottenstein got "concessions" in consideration of the modified debenture agreements, which, instead of 10-12,000,000 shares added to the OS, there will be an additional 60,000,000 added. You want to talk about screwing shareholders! But once again, this was all predicted by me! Cheers!

In addition, the interest rate payable on each Backstop Debenture will be reduced to 5.00%. Accrued interest under the Backstop Debentures may be paid, at the option of the Company, either: (i) in cash; or (ii) through the issuance by the Company of additional debentures on the New Maturity Date with a principal amount equal to such interest amount payable, all on the New Maturity Date. In addition, and in consideration of these concessions from the debenture holders, the Company has agreed to reduce the conversion price of each Backstop Debenture from C$1,225 per proportionate voting share in the capital of the Company (the "PV Shares") and C$2.45 per common share in the capital of the Company (the "Common Shares") to the greater of (i) the market price of the Common Shares on the Canadian Securities Exchange (the "CSE") on the day of this news release and (ii) the volume weighted average trading price of Common Shares on the CSE over the ten trading days following the date of this news release (the "Revised Common Share Conversion Price"). The conversion price per PV Share will be reduced to the Revised Common Share Conversion Price multiplied by 500 (five hundred). A holder of PV Shares may at any time have the option to convert 1 (one) PV Share held into 500 (five hundred) Common Shares. The Debenture Amendments are subject to the requisite approval of the CSE.