Aleafia Health convertible notes forbearance agreement extended

By Rebecca Melvin

Concord, N.H., March 29 – Aleafia Health Inc. provided an update regarding the extension of a forbearance agreement between the company and holders of its convertible debt, representing about 62% of the principal amount of the debentures outstanding, according to a press release Tuesday.

The agreement has been extended until April 11 and will renew automatically for 14-day periods unless advance notice to the contrary is provided, to allow negotiations to continue.

The listed convertible debentures were issued June 27, 2019 and mature June 27, 2022.

The company and the holders have agreed to work expeditiously and in good faith to negotiate a potential transaction to amend the terms associated with the convertibles, the release stated.

Aleafia Health is a Toronto-based cannabis health and wellness company.

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