Post by
mingzhu on Feb 20, 2020 2:12pm
news
GreenSpace Brands announces clarification of Shares for Debt conversion terms TORONTO, ONTARIO, February 20, 2020 – GreenSpace Brands Inc. (the "Company”) (TSXV: JTR) is clarifying the terms of a shares for debt transaction previously announced on February 19, 2020 ("Shares for Debt Transaction"). Under the Shares for Debt Transaction Primary Capital has agreed to settle a substantial portion of its outstanding debt in the Company through conversion of such debt into common shares of the Company ("Common Shares") at a conversion price of $0.065 per Common Share. Approximately $3.56 million in Primary Capital debt, including accumulated interest, will be converted for a new share issuance of approximately 54.8 million shares. In addition, Matthew von Teichman, CEO of GreenSpace Brands will be converting approximately $75,000 owed to him by the Company into Common Shares at conversion price of $0.065 per share, into approximately 1.15 million Shares. The Common Shares issued under the Shares for Debt Transaction will be subject to a four-month hold period. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release