Sproutly pushes maturity date of 8% convertibles back a year to 2022

Chicago, April 22 – Sproutly Canada, Inc. extended the maturity date of its 8% convertible debentures to April 24, 2022 from April 24, 2021, according to a press release.

The company receive written approval from debentureholders holding more than 20% of the C$2 million currently outstanding debentures.

The conversion price, which has been reduced several times in amendments to the indenture, remains at C$0.06 per share, as of the last amendment on Sept. 23, 2020.

The company issued C$10.75 million of the debentures on Oct. 24, 2018.

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

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