Sproutly Changes Maturity Date of Convertible Debentures | 2021-04-22 | Press Releases

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Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (” germinate “or the” Society ”) Announces that the Company has entered into a fourth supplementary trust indenture dated April 22, 2021 (the” Fourth complementary act ”) Between the Company and TSX Trust Company, as Trustee, which amends the terms of its Convertible Debenture Indenture dated October 24, 2018 (the“ Initial act ”), As amended by the First Supplementary Trust Indenture dated April 24, 2020 (the” First additional contract ”) And as amended by the Second Supplementary Trust Deed dated July 23, 2020 (the “Second additional contract ”) And as amended by the Third Supplementary Trust Deed dated September 23, 2020 (the ” Third additional contract ” , and together with the original act, the first supplementary act and the second supplementary act, the ” Indenture ”) Providing for the issuance of senior unsecured 8.0% convertible debentures with an aggregate principal amount of $ 10,750,000 (the“ ” Debentures ”).

Pursuant to the Fourth Supplementary Indenture, the Indenture was amended to extend the expiration date by one year, subject to the prior written approval of Debentureholders holding more than 20% of the Outstanding Debentures.

As of the date hereof, debentures with a principal amount of $ 2,000,000 are currently outstanding and will mature on April 24, 2021. The debentures were originally convertible by their holders into common shares of the Company at a price of $ 0.75 per common share. Pursuant to the First Supplementary Indenture, the Company and the debentureholders approved a modification of the conversion price to $ 0.105 per share. Pursuant to the Second Supplementary Indenture, the Deed of Trust has been amended to provide that certain principal and interest payments under the Deed of Trust will be settled by the Company in cash or in common shares of the Company. . Pursuant to the Third Supplementary Indenture, the Deed of Trust has been amended to move the conversion price to $ 0.06 per share and extend the maturity date by six months until April 24, 2021.

As part of the signing of the fourth Supplementary Trust Deed, the Company has extended the maturity date from April 24, 2021 to April 24, 2022.

For further details regarding the Debentures, please refer to the Company’s press releases dated October 24, 2018, December 21, 2018, April 24, 2020, July 30, 2020 and September 23, 2020 as well as the final short position. of the society. prospectus form dated December 19, 2018, each of which is available on the Company’s SEDAR profile at www.sedar.com .

About Sproutly Canada, Inc.

Sproutly’s primary goal is to become the leading supplier of unique ingredients and custom formulations to the cannabis beverage and edibles market. Our natural water-soluble Infuz 2 O and BioNatural Oils will deliver groundbreaking brands to international markets striving to produce a diverse portfolio of differentiated consumer products. Sproutly’s business goal is to implement partnerships with established consumer brands locally and globally to leverage their existing customer base, further extend brand loyalty, assist in marketing and support distribution networks to achieve this scientific breakthrough with speed and efficiency around the world.

For more information on Sproutly, please visit: www.sproutly.ca .

Forward-looking statements

Caution Regarding Forward-Looking Statements: This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs about future events of the management of Sproutly. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intentions & CloseCurlyDoubleQuote; or “anticipates & CloseCurlyDoubleQuote;, or variations of such words and phrases or statements that certain actions, events, or results” may & CloseCurlyDoubleQuote; or “occur.” Such information and statements, herein referred to as “forward-looking statements”, are not historical facts, are made as of the date of this press release, and include, without limitation, statements regarding the fourth Supplementary Trust Deed and Amendments to the Trust Deed.

These forward-looking statements involve many risks and uncertainties, and actual results may differ materially from the results suggested in forward-looking statements. These assumptions, risks and uncertainties include, among other things, the inability of the Company to obtain the necessary approvals for the Fourth Supplementary Indenture and the amendments made to the Indenture. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including, without limitation, that the Company will obtain all necessary approvals to approve the Fourth Supplementary Trust Indenture and the amendments to it. deed of trust.

Although the management of the Company has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors which may cause so that the results are not those anticipated, estimated or expected. . There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statements, forward-looking information or financial outlook which are incorporated by reference herein, except in accordance with applicable securities laws. We seek refuge.

Dr Arup Sen, CEO and Director of Sproutly Canada, Inc.

Email: [email protected]


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