- Simply Better Brands Corp. (SBBC) has entered into a debt settlement arrangement
- Under the terms of the agreement, SBBC has agreed to issue 140,351 common shares for principal and interest owed to Heavenly Rx LLC
- Simply Better Brands leads an international omni-channel platform with diversified assets in the plant-based and holistic wellness consumer product categories
- Shares of Simply Better Brands Corp. (SBBC) opened trading at C$3.15
Simply Better Brands Corp. (SBBC) has entered into a debt settlement arrangement with Heavenly Rx LLC.
Under the terms of the agreement, SBBC has agreed to issue 140,351 common shares at a deemed price of $4.20 per share.
The total amount of indebtedness settled by this arrangement is $589,474.20, for principal and interest owed to Heavenly Rx LLC from a promissory note dated March 3, 2021.
SBBC decided to satisfy the indebtedness with shares in order to preserve its cash for operational purposes.
Shares issued will be subject to a four-month hold period, once approval has been received from the TSX.
Simply Better Brands leads an international omnichannel platform with diversified assets in the plant-based and holistic wellness consumer product categories.
Shares of Simply Better Brands Corp. (SBBC) opened trading at C$3.15.
