Sproutly extends maturity date of remaining convertibles extra month

Chicago, June 28 – Sproutly Canada, Inc. extended the maturity date of its 8% senior convertible debentures to July 24 from June 24, according to a press release.

The company received written approval from debentureholders holding more than 66 2/3% of the C$1.75 million currently outstanding debentures.

The conversion price, which has been reduced several times in amendments to the indenture, remains at C$0.06 per share.

The company issued C$10.75 million of the debentures on Oct. 24, 2018.

The company is a supplier to the cannabis beverage and edibles market. It is based in Vancouver, B.C.

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