TORONTO, Sept. 9, 2020 /PRNewswire/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) is pleased to announce that the previously announced amendments (the "Amendments") to the terms of the Company's outstanding 6.0% senior unsecured subordinated convertible debentures issued in October 2018 (the "Debentures"), have been effected.
In consideration of the reduction of the principal amount of the Debentures by $63.5 million, among other consideration, the Company issued an aggregate of 116.6 million common shares (the "Consideration Shares") and $10,769 principal amount of accretion debentures to Debentureholders and entered into a supplemental trust indenture to implement the Amendments.
About Supreme Cannabis.
The Supreme Cannabis Company, Inc., (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world's most premium producers of recreational, wholesale and medical cannabis products.
Supreme Cannabis' portfolio of brands caters to diverse consumer and patient experiences, with brands and products that address recreational, wellness, medical and new consumer preferences. The Company's recreational brand portfolio includes, 7ACRES, Blissco,7ACRES Craft Collective, Sugarleaf and Hiway. Supreme Cannabis addresses national and international medical cannabis opportunities through its premium Truverra brand.
Supreme Cannabis' brands are backed by a focused suite of world-class operating assets that serve key functions in the value chain, including, scaled cultivation, value-add processing, automated packaging and product testing and R&D. Follow the Company on Instagram,Twitter, Facebook,LinkedIn and YouTube.