Grown Rogue retires early C$2.36 million of convertibles due 2021

By Marisa Wong

Los Angeles, May 10 – Grown Rogue International Inc. said it retired C$2.36 million of its senior secured convertible debentures due Nov. 1, 2021.

The early retirement of the debt will save the company C$100,000 of interest payments over 2021, according to a news release.

The debt repayment included a cash payment of C$1.54 million and the issuance of 6,555,556 common shares of the company at a price of $0.125 per share.

The repayment results in the elimination of a potential conversion of debt into 12.3 million common shares, or roughly 8% of the current issued and outstanding common shares of the company.

The cannabis company is based in Medford, Ore.

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