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Decibel Announces Repayment of Convertible Debentures
Decibel Announces Repayment of Convertible Debentures Canada NewsWire ...
About this update from Decibel Cannabis Company Inc
[{"type":"text","content":"\n \n \n \n Decibel Announces Repayment of Convertible Debentures\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n May 11, 2022\n \n \n /CNW/ - Decibel Cannabis Company Inc. (the \"Company\" or \"Decibel\") (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce the cash repayment of its 9.5% convertible debentures, which had a maturity date of\n \n May 10, 2022\n \n (the \"Convertible Debentures\"). The\n \n $12 million\n \n cash repayment represents a full payout of the Convertible Debentures, which were subject to a conversion rate of approximately 2,222 common shares for each\n \n $1,000\n \n of principal amount of Convertible Debentures, equal to a conversion price of\n \n $0.45\n \n per common share.\n \n \n \n \n \n \n \n \n \n The Company met the pre-disbursement conditions required to draw-down\n \n $12 million\n \n under its credit facility with ConnectFirst Credit Union and concurrently made the cash repayment of the Convertible Debentures. The Company's\n \n $12 million\n \n draw-down from its credit facility is subject to a 60-month repayment term at a fixed rate of 4.75% per annum, amortized over 144 months.\n \n \n \n \n \n About Decibel\n \n \n \n \n \n Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in\n \n Creston, BC\n \n is a licensed and operating 26,000 square foot cultivation space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across\n \n Canada\n \n . Thunderchild Cultivation, is a licensed and operating 80,000 square foot indoor cultivation facility in\n \n Battleford, SK\n \n . The Plant, Decibel's extraction facility, in\n \n Calgary, AB\n \n has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will...