Now we know where the volume was from.
Little bit of volume to generate a little bit of excitement to pay some more bills by diluting current shareholders.
VANCOUVER, British Columbia--(BUSINESS WIRE)-- Sproutly Canada, Inc.(SRUTF) (FSE: 38G) (“Sproutly" or the “Company”) announces that the Company, pursuant to a convertible debenture indenture dated October 24, 2018 between the Company and TSX Trust Company, as trustee, which has been amended pursuant to a first supplemental indenture dated April 24, 2020, a second supplemental indenture dated July 23, 2020 and a third supplemental indenture dated September 23, 2020 (collectively, the “Indenture”), intends to settle $124,000 in accrued and unpaid interest (the “Interest”) under the Indenture. In settlement of the Interest, the Company intends to issue 2,480,000 common shares in the capital of the Company (the “Settlement Shares”) at a price of $0.05 per Settlement Share.
The outstanding Interest will be fully settled upon the issuance of the Settlement Shares. The Debenture holders voluntarily elected to satisfy the Interest with common shares of the Company which will allow the Company to preserve its cash for future operations.
For additional details regarding the Debentures, please refer to the Company’s news releases dated October 24, 2018, December 21, 2018, April 24, 2020, July 30, 2020 and September 23, 2020 along with the Company’s final short form prospectus dated December 19, 2018, each of which are available on the Company’s SEDAR profile at www.sedar.com.
About Sproutly Canada
