Purebread Brands Reduces Debt via Share-for-Debenture Settlement

An update from Coho Collective Kitchens Inc ( (TSE:BRED) ) is now available.

Purebread Brands Inc. has reached an agreement to settle US$484,000 (C$665,403) of accrued debt owed to an arm’s-length creditor by issuing 532,322 common shares at $1.25 per share, increasing its total shares outstanding from 27,566,263 to an anticipated 28,098,585, subject to TSX Venture Exchange approval and standard hold-period restrictions. The settlement, which converts a previously unannounced 10.5%-interest debenture issued in December 2023 into equity, reduces Purebread’s indebtedness and interest burden, modestly dilutes existing shareholders, and strengthens the balance sheet as the café-bakery operator continues to execute on its growth and expansion strategy.

More about Coho Collective Kitchens Inc

Purebread Brands Inc. operates fast-casual café and bakery locations, positioning itself as a leader in this segment in British Columbia while pursuing retail expansion into communities across Canada and potentially beyond. The company focuses on crafting premium food experiences and emphasizes a community-centric brand identity as it scales its footprint in the café/bakery market.

Average Trading Volume: 57,661

Technical Sentiment Signal: Hold

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