Promissory note

Canopy Growth Announces CBI Conversion to Exchangeable Shares and Newly Constituted Board of Directors

Retrieved on:

Giovedì, Aprile 18, 2024

Constellation, Indian stock exchange, Constellation Brands, Promissory note, TSX, Compensation, Multilateral, Exchange, CBI, Chairperson, Committee, Audit committee, Transaction, Minority, CGC, CBG, Corporate governance, Security (finance)

As a result of the CBI Exchange, the CBG Group no longer holds any Common Shares.

Key Points:

As a result of the CBI Exchange, the CBG Group no longer holds any Common Shares.
The Exchangeable Shares are not traded on a public market and represent an interest in Canopy Growth directly, not Canopy USA, LLC ("Canopy USA").
"This is another important step forward for the Canopy USA strategy following the recent and overwhelming approval of our shareholders to create this exchangeable class of shares," said David Klein, Chief Executive Officer of Canopy Growth.
As a result, CBI no longer holds any governance rights in relation to Canopy Growth, including the Nominee Rights.

Asensus Surgical, Inc. Announces Non-Binding Acquisition Proposal and Exclusivity Arrangement with KARL STORZ SE & Co. KG

Retrieved on:

Mercoledì, Aprile 3, 2024

Letter, Comment, Bridge loan, Sale, Promissory note, Jefferies Group, KARL

KARL STORZ has communicated that the proposed purchase price represents its “best and final” offer to the Company.

Key Points:

KARL STORZ has communicated that the proposed purchase price represents its “best and final” offer to the Company.
During the exclusivity period, KARL STORZ will be conducting diligence and the parties will be negotiating a definitive merger agreement.
In conjunction with the letter of intent, Asensus has entered into a fully secured Promissory Note (the “Bridge Loan”) with KARL STORZ.
Asensus and KARL STORZ plan to work diligently during the exclusivity period to negotiate and finalize a definitive merger agreement.

LuxAG partners with Arqit and Traxpay to finance digital negotiable instruments

Retrieved on:

Mercoledì, Aprile 3, 2024

SCF, Partnership, ERP, Taxpayer Identification Number, Note, Promissory note, Security (finance)

LONDON, April 03, 2024 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), Traxpay GmbH (Traxpay) and Lux Kapitalmarkt Management AG (LuxAG), have entered into a trade and supply chain financing partnership for Lux AG to invest in digital negotiable instruments (DNIs), enabling businesses to use DNIs to get easy access to new pools of working capital.

Key Points:

LONDON, April 03, 2024 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), Traxpay GmbH (Traxpay) and Lux Kapitalmarkt Management AG (LuxAG), have entered into a trade and supply chain financing partnership for Lux AG to invest in digital negotiable instruments (DNIs), enabling businesses to use DNIs to get easy access to new pools of working capital.
LuxAG is a Luxembourg based one-stop-shop service provider for capital market-oriented transactions, with a focus on the structuring and implementation of capital market-oriented transactions.
Arqit's first-of-its-kind technology delivers unique, referenceable and transferable digital finance instruments which have broad commercial application and enable businesses to get closer to pools of available liquidity and improve their cash flows.
Backed by Arqit’s robust security and Traxpay’s superior technology, we have the confidence to lend using digital negotiable instruments.

Indiva Provides Update on SNDL Loan and Retains Financial Advisor To Evaluate Strategic Alternatives

Retrieved on:

Martedì, Aprile 2, 2024

Cannabis, Retail, Other Consumer, Consumer, Natural Resources, Food, Beverage, Promissory note, SSC, Limited

Concurrently, the Company has retained SSC Advisors (the "Advisor"), as its financial advisor, to assist the Company in the evaluation of potential strategic alternatives intended to maximize shareholder value, including but not limited to, financing alternatives, a merger, amalgamation, plan of arrangement, consolidation, reorganization or other similar transactions.

Key Points:

Concurrently, the Company has retained SSC Advisors (the "Advisor"), as its financial advisor, to assist the Company in the evaluation of potential strategic alternatives intended to maximize shareholder value, including but not limited to, financing alternatives, a merger, amalgamation, plan of arrangement, consolidation, reorganization or other similar transactions.
SNDL and Indiva continue to act as commercial partners and SNDL remains supportive of Indiva and this process.
There is no set timetable to complete the strategic review process nor have any decisions been made relating to strategic alternatives at this time.
There can be no assurance that the strategic review will result in any binding offer or transaction.

Great Eagle Gold Corp. Announces Kate Fehlenberg to Board of Directors and Corporate Developments

Retrieved on:

Mercoledì, Febbraio 28, 2024

The Company is thrilled to welcome Kate Fehlenberg, MPH, M.S., to its Board of Directors.

Key Points:

The Company is thrilled to welcome Kate Fehlenberg, MPH, M.S., to its Board of Directors.
Chris Hansen, Chairman of Great Eagle Gold, enthusiastically welcomed Kate to the board, remarking, "Kate's illustrious career, marked by her unwavering commitment to tackling the globe's most critical environmental and sustainability challenges, positions her as an indispensable asset to our board.
Her visionary leadership and innovative approach are exactly what we need as we propel Great Eagle into the forefront of the ESG-conscious gold mining era.
However, the parties have amended the terms of their agreement for the acquisition of Great Eagle Gold S.A.S.

The Children's Place Announces Receipt of the $48.6 Million Second Tranche of the Previously Announced Interest-Free Unsecured Financing Provided by Mithaq Capital

Retrieved on:

Lunedì, Marzo 11, 2024

Wells Fargo, Promissory note, Retirement, Interim, Gordon Brothers, Security (finance)

SECAUCUS, N.J., March 11, 2024 (GLOBE NEWSWIRE) -- —The Children’s Place, Inc. (Nasdaq: PLCE), an omni-channel children’s specialty portfolio of brands with an industry-leading digital-first model, today announced that it has received from its majority shareholder, Mithaq Capital SPC (“Mithaq”), the second tranche of interest-free, unsecured and subordinated term loan funding contemplated by the previously announced Unsecured Promissory Note, dated February 29, 2024, entered into between Mithaq and the Company, in the amount of $48.6 million (the “Second Mithaq Term Loan”).

Key Points:

As previously announced, Mithaq provided the initial tranche of $30 million to the Company pursuant to such Unsecured Promissory Note on February 29, 2024, also in the form of an interest-free, unsecured and subordinated term loan (the “Initial Mithaq Term Loan” and together with the Second Mithaq Term Loan, the “Mithaq Term Loans”).
On March 8, 2024, with the funding of the Second Mithaq Term Loan, the resignations from the Board of Norman Matthews, John E. Bachman, John A. Frascotti, Debby Reiner and Michael Shaffer have become effective and the size of the Board has been reduced to six.
Jane Elfers will continue to serve in her role as President, CEO and director of the Company.
The Company is also pursuing improved terms with Gordon Brothers as well as alternative financing on terms no less favorable in the aggregate to the Company.

Spring Valley Acquisition Corp. II Announces Monthly Contribution to Trust Account in Connection With Proposed Extension

Retrieved on:

Martedì, Gennaio 2, 2024

Finance, Consulting, Professional Services, Small Business, Legal, Shareholder, Eastern Time Zone, Government, Sponsor, Extension, Shareholder Meeting, Promissory note, IPO, Security (finance)

In exchange for such Contributions, the Sponsor will receive the Promissory Note from the Company in the amount of the total Contributions.

Key Points:

In exchange for such Contributions, the Sponsor will receive the Promissory Note from the Company in the amount of the total Contributions.
The Promissory Note is expected to be settled in cash at the closing of the Company’s initial business combination.
The funds in the Company’s trust account remain invested in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds investing solely in U.S. government treasury obligations.
As of December 29, 2023, after giving effect to the Class B Conversion, there will be 1 Class B ordinary share outstanding.

Unrivaled Brands Announces Settlement of Litigation and Debt

Retrieved on:

Mercoledì, Novembre 15, 2023

Note, Promissory note, OTCQB, Optimism, Bank

SANTA ANA, Calif., Nov. 15, 2023 (GLOBE NEWSWIRE) -- Unrivaled Brands, Inc. (OTCQB: UNRV) (“Unrivaled,” “Unrivaled Brands,” or the “Company”), a cannabis company with operations throughout California is pleased to announce that it has entered into a binding settlement term sheet (the “Binding Settlement Term Sheet”) to settle an aggregate of $4.12 million of debt inclusive of interest and penalties, with third-party accredited and institutional investors, and a related motion for summary judgement brought by certain of the investors.

Key Points:

SANTA ANA, Calif., Nov. 15, 2023 (GLOBE NEWSWIRE) -- Unrivaled Brands, Inc. (OTCQB: UNRV) (“Unrivaled,” “Unrivaled Brands,” or the “Company”), a cannabis company with operations throughout California is pleased to announce that it has entered into a binding settlement term sheet (the “Binding Settlement Term Sheet”) to settle an aggregate of $4.12 million of debt inclusive of interest and penalties, with third-party accredited and institutional investors, and a related motion for summary judgement brought by certain of the investors.
The terms of the Binding Settlement Term Sheet remain confidential but settles all Promissory Notes and amounts in controversy and stays pending litigation until dismissal upon the entering of final settlement documents.
The Company expects to record a gain on the settlement of this debt of approximately $2.37 million in its 2023 financial statements, subject to the Company’s annual financial statement audit.
“It is with gratitude and optimism that the Company settles another significant matter and substantial debt amount,” said Unrivaled’s Chief Executive Officer, Sabas Carrillo.

1847 Holdings Announces Successful Restructuring of Promissory Notes to Non-Dilutive Debt Instruments

Retrieved on:

Giovedì, Agosto 31, 2023

Growth, Note, Security (finance), Holding, EFSH, Investment, NYSE, Promissory note, Bank

Based on the agreements with the investors, the Promissory Notes are no longer convertible to equity, as long as they are repaid by the Company over a 12 month amortization schedule.

Key Points:

Based on the agreements with the investors, the Promissory Notes are no longer convertible to equity, as long as they are repaid by the Company over a 12 month amortization schedule.
Mr. Ellery W. Roberts, CEO of 1847, commented, “Restructuring these notes is an important milestone and is designed to protect the interests of shareholders by minimizing equity dilution.
As I have stated on multiple occasions, we had a short term cash need driven by the rapid growth of our portfolio companies.
However, with the cash flow now being generated as a result of these investments, we are in a much stronger financial position.

Clip Money Inc. Announces Issuance of Promissory Notes

Retrieved on:

Martedì, Agosto 15, 2023

Minority, Note, MI, Private, TSX Venture Exchange, CAD, Private placement, Public expenditure, Acquisition, Creditor, Warrant, Finance Secretary (India), Policy, Loan, Promissory note, Multilateral, Bank

TORONTO, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSX-V: CLIP) (“Clip Money” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, is announcing that it has issued secured promissory notes (the “Promissory Notes”) to two executives of the Company (the “Lenders”) in exchange for cash loans in the aggregate amount of approximately CDN$670,505 (the “Loan”).

Key Points:

TORONTO, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSX-V: CLIP) (“Clip Money” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, is announcing that it has issued secured promissory notes (the “Promissory Notes”) to two executives of the Company (the “Lenders”) in exchange for cash loans in the aggregate amount of approximately CDN$670,505 (the “Loan”).
The Promissory Notes are due and payable on the earlier of (i) the date that is two months from the original date of issue; and (ii) the closing date of a private placement in the Company (the “Maturity Date”).
Interest on the principal amount of the Promissory Notes will accrue from the original date of issue at a rate of twelve percent (12%) per annum (compounding monthly) until the Maturity Date.
The Company shall have the option of prepaying the whole or any part of the principal amount of the Promissory Notes (together with all accrued and unpaid interest thereon) at any time without notice, bonus or penalty.