RE:RE:Bevcanna Shareholder Must Read Look at all the payouts before the acquisition closing - "b) On January 25, 2021, the Company issued 7,547,232 common shares at a price of $0.40 per share to various
consultants for payment of past services. Of the total amount, 4,197,232 shares were paid to related parties. On the
same date, the Company settled a debt of $1,000,000 by issuing 2,500,000 common shares of the Company to a
company owned by a related party. The share for debt settlement repaid the $1,000,000 loan of the Company
(Note 13). On the same date, the Company also settled a debt of $85,000 by issuing 212,500 common shares of the
Company at a price of $0.40 per share to the creditor (Note 12).
c) On January 27, 2021, the Company completed a debt settlement with a related party by issuing a convertible
debenture of the Company for $1,505,021 bearing interest at 10% per annum, payable monthly and maturing in 24
months. The debenture is convertible at $0.40 per each common share of the Company at any time at the discretion
of the debenture holder. On February 19, 2021 upon the acquisition by BevCanna, the Company’s obligations to
issue such common shares for the convertible debenture was assumed by BevCanna (note 1).
d) On February 16, 2021, the Company settled $118,817 debt with a consultant for $47,527 and recorded a gain on
settlement of $71,290.
e) On February 18, 2021, the Company sold 100,000 BevCanna shares to a related party for $128,000 and realized a
gain of $30,000.
f) Subsequent to the year ended December 31, 2020, the Company repaid $150,000 for the principal on the loan
(Note 12 (b)).
g) Subsequent to the year ended December 31, 2020, the Company repaid $1,405,000 loan and accrued interest to a
related party (Note 13).