Cannabis Co. Vext Announces Debt Conversion, Opens Door To 27 Million Shares For Investors
Vext Science has reached agreements with the holders of the company's existing secured non-convertible debentures to convert the outstanding principal amount of $4.6m, plus interest and a conversion incentive fee, into 27,700,625 common shares of the company. The conversion is subject to regulatory approval and is expected to be completed in due course. Upon completion, all existing security held by the debenture holders will be released and discharged. Sopica Special Opportunities Fund Limited, an insider shareholder of Vext Science, is a debenture holder and is expected to acquire common shares as part of the conversion transaction.
