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Lifeist Wellness Inc V.LFST

Alternate Symbol(s):  LFSWF

Lifeist Wellness Inc. is a Canada-based health-tech company. The Company's portfolio of wellness companies leverages advancements in science and technology to enable consumers to find their individual path to wellness. Its portfolio business units include Mikra, which is a biosciences and consumer wellness company developing and selling products for cellular health and CannMart, which is a business-to-business (B2B) wholesale distribution business facilitating recreational cannabis sales to Canadian provincial government control boards.


TSXV:LFST - Post by User

Post by QuothTheRavenon Aug 09, 2020 3:24pm
220 Views
Post# 31384830

Details about the loan deal between N and Choklat

Details about the loan deal between N and Choklat
Press Release:

 
Loan taken by Choklat on March 2019 from N, and due in full by the end of December 2020.  Unpaid portions still owed to N get converted to Choklat shares.

 
$1.5 million = 49% of Choklat company
 
Therefore:
   1% ownership = ($1.5 mil / 49) = $30,612
   100% ownership = $3,061,224
 
 
Choklat's loan of $300K has 12% interest, and it appears there is no compounding of interest.  This would be a fixed rate of interest of ~$1636/month for ~18 months.  Q2 2020 financials showed the loan sitting at $322K, which roughly lines up with this.
 
 
Come December, Choklat must pay back:
 
($300K loan) + ($36K interest) - ($31K for 1% ownership) = $305K to retain majority control of Choklat.  Anything less, and Namaste Technologies takes over.
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