Green Growth defaults on $45.5 million 15% convertibles due May 17

By Rebecca Melvin

New York, May 19 – Green Growth Brands Inc. announced that an event of default has occurred regarding its $45.5 million principal amount of 15% secured convertible debentures, which matured on May 17.

The company previously disclosed it had received secured debt financing from All Js Greenspace LLC of $400,000 on May 5 and another $400,000 from All Js on May 12, according to a company release.

The cannabis company is based in Toronto.

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