This debt reduction was achieved through the repurchase of
As part of the Debt Repurchase, CLSH also acquired 13,274,780 of its issued and outstanding shares previously held by the debenture holder, thereby strengthening Shareholder Value by reducing the overall number of issued and outstanding shares. The Shares Repurchased had a value (based on the trading price of CLSH stock on the Date of Repurchase) of 0.0450 per share or
The retirement of the debt and the repurchase of shares was financed through a series of four loans totaling
In commenting on the transaction,
About
Oasis Cannabis
Oasis Cannabis has operated a cannabis dispensary in the
City Trees
Founded in 2017, City Trees is a
Forward-Looking Statements
This press release contains certain 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' as that term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the 'forward-looking statements'). These statements relate to, among other things, the impact of the COVID-19 virus on our business, the results of our initiatives to retain our employees and strengthen our relationships with our customers and community during the pandemic, the effect of our initiatives to expand market share and achieve growth, the expected development of our business and joint ventures, results of operations and financial performance, future liquidity, working capital and capital requirements, the impact of the reverse stock split on our stock price, the effects of the additional dilution in our common stock that may occur as a result of the amendments to our convertible debentures, and anticipated future events. The continued spread of COVID-19 could have, and in some cases already has had, an adverse impact on our business, operations and financial results, including through disruptions in our cultivation and processing activities, supply chains and sales channels, and retail dispensary operations as well as a deterioration of general economic conditions including a possible national or global recession. In some cases, you can identify forward looking statements by terminology such as 'may,' 'might,' 'will,' 'should,' 'intends,' 'expects,' 'plans,' 'goals,' 'projects,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' 'potential,' or 'continue' or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future.
Contact:
Tel: 888-260-7775
Email: investors@clsholdingsinc.com
(C) 2024 Electronic News Publishing, source