Cansortium Announces Amendment to Convertible Notes
Pursuant to a recent meeting of Noteholders, the Company has reached an agreement with the holders of the Notes (the "Noteholders") to extend the maturity date of the Notes until
The Company has agreed to issue common shares of the Company at a deemed value of U.S.
The Company has also agreed to pay an extension fee equivalent to 1% of the total principal amount and accrued interest outstanding on the Notes as at
All other terms of the Notes remain unchanged such that, at the option of the Noteholder, the principal amount of each Note is convertible into Note Units (as herein defined) at any time at U.S.
The Company's indirect wholly owned subsidiary,
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Forward-Looking Information
Certain information in this news release, may constitute forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in the public documents of the Company available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE
www.getfluent.com; Cansortium Investors and Media: Marcos Pedreira, Chief Financial Officer, 786-530-3959, marcos.pedreira@getfluent.com, investors@cansortium.com