Chalice Brands Ltd. CHALF

CHALICE DEBT IS OVERWHELMING AND INovember = TAKEOVER

[Here4thekeks]

Restructuring of Chalice Farms Debt Obligations

 
CHALICE DEBT IS OVERWHELMING AND IT LOOKS LIKE THE MERCY BULLET IN NOVEMBER
 
https://investors.chalicebrandsltd.com/press/accretive-restructuring-of-chalice-farms-debt-obligations-announced-by-golden-leaf-holdings

Revised Debt Terms:

• Chalice agrees to an immediate conversion of 50% or USD$2,500,000 of the existing cash obligation (the “Conversion”) that remains due on May 2, 2022 into GLH shares at US$0.06 representing a significant premium to current prices.  The resultant 41,666,667 common shares (the “Conversion Shares”) to be placed into escrow to be released over 60 months commencing May 2, 2022.
• Remaining principle of USD$2,500,000 becomes payable in 60 monthly installments of $41,666 over 60 months plus an interest rate of 6% beginning on the maturity date of May 2, 2022 (the “Cash Obligation”).
• Existing share payment of $4,527,350 remains unchanged and is due at the original maturity of May 2, 2022 based on a then 30-day trailing VWAP.  These shares will also be released from escrow over 60 months.
• As a condition of the restructuring, the Company agrees to either attain positive cash flow or raise US$5,000,000 within 12 months (the “Requirements”) from the execution of the agreement. If one of these requirements are not met, then GLH owes a further 62,500,000 shares to Chalice on May 02, 2022 under the same Escrow release terms.