Sproutly adjusts conversion price for C$8.25 million convertibles

By Sarah Lizee

Olympia, Wash., April 24 – Sproutly Canada, Inc. announced an amendment to the conversion price of its C$8.25 million convertible debentures.

The debentures were originally convertible by holders into common shares of the company at a price of C$0.75 per common share. Sproutly and holders have approved a new conversion price of C$0.105 per share, with the amendment effective Friday, according to a press release.

The company issued C$10.75 million of the debentures on Oct. 24 and C$8.25 million of the convertibles are currently outstanding.

The company is a supplier to the cannabis beverage and edibles market. It is based in Vancouver, B.C.

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