Post by
TeamEddie on Jun 25, 2020 5:33pm
wow this is going to be bad
Gotham Green Admin 1 LLC, as collateral agent holding security for the benefit of the holders of iAnthus Capital Holdings Inc.'s 13 per cent senior secured debentures, has provided iAnthus Capital and its wholly owned subsidiary, MPX Bioceutical ULC, with a demand for repayment under the amended and restated secured debenture purchase agreement dated Oct. 10, 2019, of the entire principal amount, together with interest, fees, costs and other allowable charges that have accrued or may accrue, in accordance with the purchase agreement and the other transaction agreements (as defined in the purchase agreement). The collateral agent also concurrently provided both the company and MPX with a notice of intention to enforce security under Section 244 of the Bankruptcy and Insolvency Act (Canada). Pursuant to Section 244 of the BIA, the collateral agent shall not enforce the security over the collateral granted by the company and MPX until the expiry of 10 days after sending the BIA notices, unless the company and MPX consent to an earlier enforcement of the security. The company and MPX do not intend to consent to an earlier enforcement and are exploring available options.
Comment by
GhostmyDck on Jun 25, 2020 9:15pm
2 days ago....you just seeing this now? C'mon team eddie keep up. No word on confirmation of fins date. All in the good hands of Randy and Beth.
Comment by
TeamEddie on Jun 25, 2020 9:53pm
they are requiring payment if full not just the missed payments and as per the agreement they can seize the assets
Comment by
GhostmyDck on Jun 26, 2020 1:57pm
Operations are not a scam. Management and chief lenders are greedy I have a weird rasherss
Comment by
GhostmyDck on Jun 26, 2020 1:57pm
Wtf stockhouse autocorrected f c k r s s