Indiva Ltd V.NDVA.H

New Press Release - Indiva Provides Update on SNDL Loan and Strategic Review

Indiva Limited (the "Company" or "Indiva") (TSXV:NDVA), the leading Canadian producer of cannabis edibles, is pleased to provide an update to the information contained in its press release dated April 2, 2024. As discussed in the prior press release, the Company: (i) entered into an amendment...read article.

[nedstar71]

Strange, in the April news release it stated "There is no set timetable to complete the strategic review process nor have any decisions been made relating to strategic alternatives at this time" And now they're saying "The date by which the Company is required to have satisfied certain current liabilities under the Amending Agreement has been extended to June 13, 2024."

[caretired1]

This post has been removed in accordance with Community Policy

[caretired1]

Note 11 in March financials has this detail

[nedstar71]

I see that now.  Somewhat odd they'd go out of their way to indicate there was no set timetable when there was indeed a deadline, albeit an now a 10 day extended date to which the $4.9 million needed to be paid back.  I'd suggest mortgaging the building but according to the terms of the amendment document it sounds like Indiva isn't able to do any transactions like that

[caretired1]

maybe canopy is raising the 5 million to lend back by selling stock!