Ms. Jenn Hepburn reports
EMERALD HEALTH THERAPEUTICS CLOSES SHARES FOR DEBT TRANSACTION
Emerald Health Therapeutics Inc. has closed its previously announced shares-for-debt financing. Further to its news release dated Aug. 21, 2020, the company has settled $625,000 of debt payable to the holders of convertible debentures of the company issued on Sept. 10, 2019. The debt represents accrued interest on the convertible debentures to June 30, 2020. The debt was settled in exchange for the issuance of 3,571,428 common shares of the company to the holders at a deemed value of 17.5 cents per debt share. All debt shares are subject to a statutory hold period of four months plus a day from the date hereof in accordance with applicable securities legislation.
Annual general and special meeting
Pursuant to the provisions of the Business Corporation Act (British Columbia), the company was required to hold an annual general meeting of its shareholders on or before Sept. 20, 2020. However, the British Columbia Registrar of Companies has granted the company an extension to hold its annual general meeting. Further to the news release dated Sept. 8, 2020, the company will hold an annual general and special meeting on Oct. 29, 2020. Further details regarding the meeting will be included in the company's information circular, which is expected to be mailed to shareholders in late September, 2020.
About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics is committed to creating new consumer experiences with distinct recreational, medical and wellness-oriented cannabis and non-cannabis products, with an emphasis on life science-based innovation and production excellence. Emerald's operating assets are designed to uniquely serve the Canadian marketplace and targeted international opportunities.
We seek Safe Harbor.
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