Nevada cannabis cultivator producer company Flower One Holdings amended the terms of a short-term debt agreement to extend the maturity date to the end of this year.
Flower One initially took the one-year, 15% loan from a private lender in March 2020 for $10 million, then amended it that July to add an additional $1 million and extend the term by six more months, according to a regulatory filing.
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In January 2021, $5 million of the short-term debt was converted into shares.
At the same time, the interest date for the remaining debt was reduced to 10% and the maturity date postponed to July 2022.
The new maturity date is Dec. 31, 2022.
Las Vegas-based Flower One raised $5 million in a private placement in September 2021 and took on an additional $10.1 million in term loan financing from a shareholder in February.
In late June of this
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