June 15, 2021 7:02 AM EDT
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Kelowna, British Columbia and Las Vegas, Nevada–(Newsfile Corp. – June 15, 2021) – Fiore Cannabis Ltd. (CSE: FIOR) (OTCQX: FIORF) (“Fiore” or the “Company”), a licensed multi-state cannabis cultivator, producer and retailer, today announced it has agreed to a debt settlement agreement (the “Agreement”) related to a convertible bond certificate issued May 1, 2017.
Fiore has issued to certain bondholders of the Company 3,846,153 common shares in the capital of the Company (“Shares”) with a deemed price of C$0.15 per Share and 3,846,153 common share purchase warrants (“Warrants”) at an exercise price of C$0.22 for a period of 18 months to settle C$576,923 in indebtedness of the Company. The Shares issued in connection with the Transaction are subject