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Coho Collective Kitchens Inc ( (TSE:BRED) ) just unveiled an announcement.
Purebread Brands Inc. has entered into a new debt settlement agreement with an arm’s length creditor to convert approximately $1.97 million of outstanding debt into 1,579,670 equity units at $1.25 per unit, each consisting of one common share and one-half warrant exercisable at $2.50 over three years, a transaction that is expected to result in the creditor becoming an insider and remains subject to TSX Venture Exchange approval and statutory hold periods. The company has also closed a previously announced shares-for-debt transaction, issuing 532,322 common shares at $1.25 per share to settle US$484,000 (C$665,403.20) in liabilities, increasing its outstanding share count to 28,098,585 and further advancing its efforts to strengthen the balance sheet by reducing debt through equity conversion.
More about Coho Collective Kitchens Inc
Purebread Brands Inc. operates fast-casual café and bakery concepts in British Columbia, with a strategy focused on retail expansion into vibrant communities across Canada and potentially international markets. The company positions itself as a premium food-service brand centered on crafted food experiences and community engagement.
Average Trading Volume: 60,697
Technical Sentiment Signal: Hold
See more insights into BRED stock on TipRanks’ Stock Analysis page.