Emerald Health Therapeutics (TSXV: EMH) this morning announced that it has paid off its convertible debenture debt. The repayment is a result of the company receiving funds from the sale of its stake in Pure Sunfarms to Village Farms (TSX: VFF) (NASDAQ: VFF).
In total, the company managed to pay off $25.0 million in principal, along with $0.5 million in accrued interest in relation to the debentures. Payment was made via all cash, with the convertible debentures, originally due on September 9, 2021, now being fully paid off. Also included in the interest figure was a “consent fee” in the amount of $81,596.12, which was paid in exchange for the consent to pay off the debt early.
The debt pay off is said to now heavily reposition the firms balance sheet, given that one of its largest liabilities has now been eliminated.
The company concurrently announced that it will be reporting its third quarter financial results after the close of markets on November 30, 2020.
Emerald Health Therapeutics last traded at $0.22 on the TSX Venture.
Information for this briefing was found via Sedar and Emerald Health Therapeutics. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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