RE:Another settlement, who glommed the 1/2 million shares? Could it possibly be from the Sale of Binbrook Property?
AgraFlora also said that on July 14, 2021, it sold the Binbrook property held by its wholly-owned subsidiary Sanna Health Corp for around $1.87 million.
“As a result, the company’s level of indebtedness has been reduced by the same amount and certain litigation previously involving Sanna Health Corp. with the mortgagees of the Binbrook property has been settled and the action has been dismissed,” noted the company.
mystique1 wrote: It never ends? Who gets a settlement next month? Settlement Agreement
The Company also announces that it has entered into a settlement agreement (the "Settlement") to resolve outstanding legal claims against the Company's wholly owned subsidiary, Sanna Health Corp. ("Sanna"), initiated by a former Executive of Sanna (the "Former Executive"). Pursuant to the Settlement, the Company shall issue to the Former Executive 552,609 common shares of the Company (the "Settlement Shares") in addition to a cash payment. The Settlement Shares will be issued at a deemed price per share of $0.4524. The Settlement Shares will not be subject to a four month plus one day hold as the Company is relying on the prospectus exemption for employees pursuant to Section 2.24 of National Instrument 45-106 - Prospectus Exemptions.