Continued negotiations for Aleafia !! Aleafia Health Provides Further Update on its Convertible Debt
Wednesday, March 16, 2022, 8:21 PM ET
Aleafia Health Provides Further Update on its Convertible Debt
Holders representing approximately 62% of total Debentures extend Forbearance Period until March 28, 2022 to allow negotiations to continue
TORONTO, March 16, 2022 (GLOBE NEWSWIRE) -- Aleafia Health Inc. (TSX: AH, AH.DB, OTCQX: ALEAF) ("Aleafia Health" or the "Company") is providing a corporate update regarding its outstanding listed unsecured convertible debentures (TSX: AH.DB), issued on June 27, 2019 and maturing on June 27, 2022 (the "Convertible Debt").
Further to the Company's announcements on February 1, 2022 and March 1, 2022, the Forbearance Agreement, entered into between the Company and holders of Convertible Debt representing approximately 62% of the aggregate principal amount of debentures outstanding, has been extended until March 28, 2022. The Agreement automatically renews for 14-day periods thereafter unless advance notice to the contrary is provided.
The parties continue to work expeditiously and in good faith to negotiate a potential transaction to amend the terms associated with the Convertible Debt. While there can be no assurances regarding any outcome, the Company believes progress is being made towards a solution that is beneficial to its stakeholders.