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Toronto, May 13, 2022 (GLOBE NEWSWIRE) — Entourage Health Corp. (Formerly WeedMD Inc.) (TSX-V: ENTG) (OTCQX: ETRGF) (FSE: 4WE) (“Entourage” or “society”), Canada’s producers and distributors of award-winning cannabis products have announced that they have signed a voting support agreement with certain holders of our 8.5% unsecured convertible bonds by September 25, 2022. Did.Bonds”), Hygrovest Limited, the largest holder of corporate bonds (collectively,“Support for bondholders”), To vote in favor of a specific amendment to the trust agreement signed between the TSX Trust Company and the Company on September 25, 2019 (“Indenture“) Management of corporate bonds (“Suggested fix“). Once the proposed amendment is approved, the indenture will be amended, among other things, to accelerate (i) the maturity of corporate bonds until June 30, 2022 (“).New maturity date”); (Ii) The amount of cash paid on the bonds on the new maturity date will be amended to 60% of the principal of the bonds, with the unpaid interest accrued by the new maturity date and the necessary taxes deducted. It will be deducted.
Entourage and its board of directors said the proposed amendment is one of the company’s strategies to implement a lasting initiative that can improve the company’s capital structure and create long-term value for all securities holders. I believe you are doing it.
The proposed amendment is subject to approval by the TSX Venture Exchange and approval by the bondholders (“”Bond holders“). Approval from bondholders is sought at the bondholders’ meeting (“meeting”) It will be effectively held on June 20, 2022.To be effective, a resolution approving the proposed amendment must be passed by at least 66.2/3Percentage of total principal of corporate bonds represented directly or by an agent at a meeting. Meeting materials will be available on SEDAR at the same time as mailing to bondholders registered on or around May 26, 2022.
As of May 12, 2022, bonds with a total principal amount of approximately CDN $ 12,765,000 have been issued and issued. Supporting bondholders have a favorable holding of CDN $ 6,335,000 in total bond principal, which is approximately 49.6% of the outstanding and issued bonds