Nextleaf Solutions Ltd. OILFF OILS Lis a government regulated manufacturer and distributor of cannabis extracts, including vapes, oils and softgels start his new brand High levels.
High Plains will be launching four initial one gram vape cartridge SKUs with flavor profiles including Fruitquake, Cotton Cannon, Wild Watermelon and Blueberry Dream. The first vape products will be available in British Columbia this fall, with more SKUs coming to Ontario in the new year.
Nextleaf Receives Extension of Convertible Debenture Funding
Nextleaf has amended the terms of the Senior Secured Debenture issued to an institutional investor on March 31, 2021.
In exchange for the changes to the payment terms and maturity date of the debenture, the Company has agreed:
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Pay the investor a forbearance fee of CA$100,000, the amount of which will be added to the original principal amount owed under the promissory note.
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Change the note’s conversion price to $0.08 per share.
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Cancel an aggregate of 7.9 million warrants held by the investor and issue new warrants to the investor to purchase up to an aggregate of 7.9 million shares of common stock, such new warrants being exercisable for a period of five years from the date of issuance Subscription price can be exercised.
The New Warrants are subject to a four-month hold period from their date of issuance under applicable Canadian securities laws.
Nextleaf issues stocks and options
Nextleaf has issued an aggregate of 843,233 common shares at an assumed price of $0.08 to $0.11 per share to the Company’s technical, operational and business consultants in exchange for services rendered.
Photo of Tim Forest on Unsplash
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