- Holders representing approximately 62% of the total Debentures extend the forbearance period until May 12, 2022 to allow trading to continue
TORONTO, April 27, 2022 (GLOBE NEWSWIRE) — Aleafia Health Inc. (TSX: AH, AH.DB, OTCQX: ALEAF) (“Aleafia Health“or the”Company”) provides an update on its outstanding listed unsecured convertible debentures (TSX: AH.DB), issued on June 27, 2019 and maturing on June 27, 2022 (the “Convertible debt”).
Following the Company’s previous announcements, the forbearance agreement, entered into between the Company and holders of convertible debt representing approximately 62% of the aggregate principal amount of outstanding debentures, has been extended until May 12, 2022. agreement automatically renews for 14- day periods thereafter, unless otherwise notified in advance.
The parties continue to work expeditiously and in good faith to negotiate a potential transaction to amend the terms associated with the Convertible Debt. Although there are no guarantees as to the results, the Company believes that significant progress is being made towards a solution that benefits its stakeholders.
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About Aleafia Health:
Aleafia Health, a vertically integrated, federally licensed Canadian cannabis company, owns three licensed cannabis production facilities, including the first legal large-scale outdoor cultivation facility in Canadian history, and operates a strategically located distribution center, all in the province of Ontario. The Company produces a diverse portfolio of cannabis-derivative products, including oils, capsules, edibles, sublingual strips and vapes, for sale in Canada in the adult and medical markets, and seeks opportunities in some international jurisdictions. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners.
This press release contains forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, or “believes”. or variations of these words and phrases or state that certain actions, events or results “could”, “could”, “would”, “might” or “will” be undertaken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied. -understood by forward-looking information. information contained in this press release. The risks, uncertainties and other factors involved in forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the risks contained in the notice. Annual Report of the Company filed with the Canadian Securities Administrators available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information contained in this press release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur. within the disclosed time frame or at all. The forward-looking information included in this press release is made as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, unless the applicable securities so require. legislation.