Debt Repurchase Signals Positive Growth For This Globally-Focused Cannabis Company
Portfolio Pulse from Jelena Martinovic
Digicann Ventures Ltd. (OTCPK: AGFAF) has repurchased $14.2 million of its previously issued 10.00% senior unsecured convertible debentures for $1.6 million, representing a buyback of over 93% of the debentures currently outstanding. The maturity date of the debentures was extended to March 2024. The company also sold shares of AgraFlora Europe GmbH for €500,000 ($529,675).
October 30, 2023 | 3:35 pm
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Digicann Ventures' repurchase of its debentures and sale of AgraFlora Europe shares could improve its financial condition.
The repurchase of debentures reduces Digicann's debt and the sale of AgraFlora Europe shares provides additional cash, both of which could improve the company's financial condition.
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