- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
TransCanna Holdings Inc. announced that it has entered into an agreement to extend the maturity date of a promissory note issued by Dalvi, LLC.
TransCanna Holdings Inc. (CSE:TCAN, FSE:TH8) (“TransCanna” or the “Company”) announced that it has entered into an agreement to extend the maturity date of a promissory note (the “Promissory Note”) issued by the Company’s wholly owned subsidiary, Dalvi, LLC (“Dalvi”), in favour of Cool Swang, LLC (“Cool Swang”) by six months to April 15, 2020 (the “Extension”).
The Promissory Note evidences a loan in the principal amount of US$6,750,000, which was advanced by Cool Swang, as seller, to fund a portion of the purchase price for the Company’s Daly facility in Modesto, California, which was acquired by Dalvi in April 2019.
In consideration for the Extension, a fee in the amount of CDN$280,000 was owing to Cool Swang. The parties have agreed to settle such indebtedness through the issuance of 500,000 common shares of the Company (the “Shares”) at a deemed price of CDN$0.56 per Share. The Shares are subject to certain restrictions on trading in accordance with applicable securities laws.
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian based company providing branding, transportation and distribution services, through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace.
For further information, please visit the Company’s website at www.transcanna.com or email the Company at info@transcanna.com.
On behalf of the Board of Directors
Steve Giblin
President & CEO
604-609-6199
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Click here to connect with Transcanna Holdings Inc. (CSE:TCAN) for an Investor Presentation.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.