Promissory note

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

Retrieved on: 
Wednesday, February 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: 
Monday, March 11, 2024

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: 
Tuesday, January 2, 2024

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: 
Wednesday, November 15, 2023

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: 
Thursday, August 31, 2023

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: 
Tuesday, August 15, 2023

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.

Nevada Lithium Completes Acquisition of 100% Ownership of Bonnie Claire Lithium Project, Nevada USA with Robust PEA Economics of USD $1.5 Billion NPV (After Tax) and Receives Proceeds from $11.3M Concurrent Financings

Retrieved on: 
Monday, July 10, 2023

Upon completion of the Arrangement, Nevada Lithium now holds a 100% interest in the Bonnie Claire Project.

Key Points: 
  • Upon completion of the Arrangement, Nevada Lithium now holds a 100% interest in the Bonnie Claire Project.
  • Nevada Lithium is currently engaged in Pre-Feasibility Study work, as well as strategic dialog with lithium end-users.
  • Richard Kern, President/CEO of Ionic and Chief Operating Officer and director of Nevada Lithium, added: "The Bonnie Claire lithium deposit has developed into a resource of potential global significance with its size, grade and location in Nevada, USA.
  • Dr. Wilson is independent of Iconic but is not independent of Nevada Lithium, as he is a director and Vice President of Exploration for Nevada Lithium.

NOTICE - CHEMISTREE CONVERTIBLE DEBENTURE INTEREST PAYMENT

Retrieved on: 
Saturday, June 10, 2023

VANCOUVER, BC, June 9, 2023 /PRNewswire/ - Chemistree Technology Inc. (CSE: CHM) and US (OTCQB: CHMJF) (the "Company" or "Chemistree"), is providing Notice of the semi-annual payment of interest on its convertible debentures maturing March 29, 2024.

Key Points: 
  • VANCOUVER, BC, June 9, 2023 /PRNewswire/ - Chemistree Technology Inc. (CSE: CHM) and US (OTCQB: CHMJF) (the "Company" or "Chemistree"), is providing Notice of the semi-annual payment of interest on its convertible debentures maturing March 29, 2024.
  • Pursuant to the Supplemental Indenture entered into with the Debenture Trustee, Odyssey Trust Company, effective January 17, 2022, the Company will pay the interest due on June 30, 2023 - via the issuance of common shares in lieu of payment in cash.
  • According to data provided by the Debenture Trustee, $7,491,000 in convertible debentures remain outstanding.
  • The convertible debentures accrue interest daily, with such accrued interest paid immediately upon conversion of the debentures.

JOLT Health Inc. Announces Issuance of Common Shares in Satisfaction of Interest Payments to Promissory Note Holders and Interest Payment to Convertible Debenture Holder

Retrieved on: 
Friday, May 26, 2023

VANCOUVER, BC, CANADA, May 25, 2023 (GLOBE NEWSWIRE) -- Jolt Health Inc. (formerly Love Pharma Inc.) (“Jolt” and or “the Company”) (CSE:JOLT) (FSE: G1Q0) is pleased to announce that pursuant to a 10% interest bearing convertible debenture issued on October 12, 2022, the Issuer issued a total of 13,765,763 common shares, at $0.015 per common share in satisfaction of the aggregate interest payment owed by the Issuer of $195,000 to a Debenture holder  In addition, pursuant to Promissory Notes dated January 23, 2020 and extended to December 31, 2023, the Issuer issued a total of 6,116,913 common shares at $0.15 per common share in satisfaction of the aggregate per annum interest rate of 5% owing on the Promissory Notes.

Key Points: 
  • VANCOUVER, BC, CANADA, May 25, 2023 (GLOBE NEWSWIRE) -- Jolt Health Inc. (formerly Love Pharma Inc.) (“Jolt” and or “the Company”) (CSE:JOLT) (FSE: G1Q0) is pleased to announce that pursuant to a 10% interest bearing convertible debenture issued on October 12, 2022, the Issuer issued a total of 13,765,763 common shares, at $0.015 per common share in satisfaction of the aggregate interest payment owed by the Issuer of $195,000 to a Debenture holder  In addition, pursuant to Promissory Notes dated January 23, 2020 and extended to December 31, 2023, the Issuer issued a total of 6,116,913 common shares at $0.15 per common share in satisfaction of the aggregate per annum interest rate of 5% owing on the Promissory Notes.
  • The common shares are being issued to arms-length parties, and are subject to a four month hold period.
  • The shares for debt settlement is subject to the approval of the Canadian Securities Exchange.

Base Carbon Announces Closing of HCBL Partnership Restructuring

Retrieved on: 
Wednesday, May 10, 2023

TORONTO, May 10, 2023 (GLOBE NEWSWIRE) -- Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) ("Base Carbon", or the "Company"), a financier and developer of emission reduction, removal and related climate action projects, confirms it has closed the previously announced transaction (the “HCBL Restructuring Transaction”) to consolidate ownership of Base Carbon Capital Partners Corp. (“BCCPC”) and the restructuring of its partnership with Hardwick Climate Business Limited (“HCBL”).

Key Points: 
  • TORONTO, May 10, 2023 (GLOBE NEWSWIRE) -- Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) ("Base Carbon", or the "Company"), a financier and developer of emission reduction, removal and related climate action projects, confirms it has closed the previously announced transaction (the “HCBL Restructuring Transaction”) to consolidate ownership of Base Carbon Capital Partners Corp. (“BCCPC”) and the restructuring of its partnership with Hardwick Climate Business Limited (“HCBL”).
  • Pursuant to the HCBL Restructuring Transaction, Base Carbon has now completed the purchase of HCBL’s equity interest in BCCPC for an aggregate purchase price of US$2,996,000.
  • Base Carbon also reduced its equity ownership in HCBL by way of a share capital reduction and the cancellation of the Promissory Note, and upon completion of certain post-closing ancillary steps to the HCBL Restructuring Transaction, Base Carbon is expected to retain a 15% equity interest in HCBL.
  • Origination fees from Base to HCBL will be based upon the Company’s required investment capital for qualified carbon credit development projects which are sourced by HCBL and executed by Base Carbon.