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Chalice Brands Ltd CHALF

Chalice Brands Ltd. is a U.S. operator in the most competitive, innovative and mature cannabis market in North America. Leaders in retail, marketing and craft cultivation supported by fully integrated processing and distribution. The Company has 12 retail stores in Oregon operating as Chalice Farms, Homegrown Oregon and Left Coast Connection and is distributed nationally through Fifth & Root.


GREY:CHALF - Post by User

Post by PortHuron4evahon Oct 28, 2022 8:10pm
225 Views
Post# 35057236

possible explanation posted on Reddit by Quantricko

possible explanation posted on Reddit by Quantricko

Upcoming dates and events

Hello,I wanted to try and summarize upcoming events based on recent Chalice Brands regulatory filings.

  • November 14Debenture Holders' meeting. An aggregate of C$ 4M principal amount of Debentures are issued and outstanding. An aggregate of C$ 0.2M of interest was due as of June 30, 2022. Because trading was (and still is) halted the Corporation cannot pay with shares. It is thus seeking to extend the time for repayment until November 16 2024. Interest will continue to accrue on the Debentures at a rate of 10%.

  • December 16: Shareholders' meeting.

Source for regulatory filings: https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00033830

What I read between the lines is that the delay in 2021 financials created a snowball. Since financials were late, trading was halted. Since trading was halted, debenture could not be converted into shares. Furthermore, until financials are officially submitted it is difficult and risky for management to make public remarks about status of the business. Because of this limited communication, shareholders are worried. Financials will have to be published before the shareholders' meeting, hopefully there is light at the end of the tunnel


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