- High Fusion Inc. (FUZN) has extended the term of the August 2018 senior secured debentures from August 3, 2022 to February 3, 2023
- With the extension of the date of maturity of the debentures, the interest on the debentures to maturity will increase to 24 per cent annually
- A half of the interest on the debentures will be added to the principal amount increasing the principal outstanding balance from $4,205,073.25 to $4,458,068.89.
- High Fusion Inc. (formerly Nutritional High International Inc.) is focused on developing and manufacturing branded products in the cannabis industry with a specific focus on flower, pre-rolls, vapes, edibles and oil extracts for medical and adult recreational use
- High Fusion Inc. was unchanged at $0.02 at 10:55 ET
High Fusion (FUZN) has extended the term of the August 2018 senior secured debentures from August 3, 2022 to February 3, 2023.
With the extension of the maturity date of the debentures, the interest on the debentures will increase to 24 per cent annually.
Half of the interest on the debentures will be added to the principal amount increasing the principal outstanding balance from $4,205,073.25 to $4,458,068.89.
The remaining half of the interest due to maturity, representing $252,995.64, shall be payable, before maturity, in subordinated voting shares of the company at a price equal to the 20-day volume weighted average price as approved by the CSE.
In the event that the CSE does not approve such issuance of such shares prior to maturity, the company shall pay interest in cash at maturity.
“We are pleased that our senior creditor and the other debentureholders have agreed to support the company by way of extending the maturity of the debentures,” said John Durfy, CEO of High Fusion Inc.
“The company is considering strategic alternatives for its non-core assets and this 6-month extension will allow us to advance this process,” he added.
High Fusion Inc. (formerly Nutritional High International Inc.) is focused on developing and manufacturing branded products in the cannabis industry with a specific focus on flower, pre-rolls, vapes, edibles and oil extracts for medical and adult recreational use.
High Fusion Inc. was unchanged at $0.02 at 10:55 ET.