BB's Stock Haven

[CBDJunkie401]

SPRWF released a PR the other day that went totally unnoticed!

They are a very reputable marijuana and CBD company that does $50 M a year in revenues. They released a PR stating that they have reworked their REMAINING debt so that NO SHARES can be sold towards the payment of the debt under 28 cents per share.

The stock is at 16 cents a share. That means no dilution and it also means the company and debt holders are going to do all they can to get the stock back above that 28 cent share marker. It is a no brainer!

https://www.otcmarkets.com/stock/SPRWF/news/Supreme-Cannabis-Announces-Agreement-to-Partially-Convert-and-Amend-Debentures?id=269595

The total principal amount of convertible Debentures outstanding will be reduced from $100.0 million to $36.5 million and the maturity date will be extended from October 19, 2021 to September 1, 2025 unless repurchased, redeemed or converted prior to maturity. The remaining Debentures will accrete at a rate of 11.06% per annum, compounding on a semi-annual basis commencing on September 1, 2020, and ending on September 1, 2023. The accreted portion of the principal is payable in cash but does not bear cash interest and is not convertible into the Company's common shares. The accreted portion of the principal will be evidenced by a separate series of debentures, which will not be listed on the Toronto Stock Exchange.

The conversion price of the remaining convertible Debentures outstanding will be reduced from $2.45 per share to $0.285 per share and annual interest payments will be reduced to $2.9 million from $6.0 million. The Company will have the right to force the conversion of the remaining principal amount of the convertible Debentures outstanding at the Conversion Price on not less than 30 days' notice if the daily volume weighted average trading price of the Company's common shares is greater than $0.45 for any 10 consecutive trading days. The principal amount of the remaining Debentures will amortize at 1.0% per month over the 24 months prior to maturity.