Eureka 93 Inc. Continues Restructuring and Executes Set of Full Payment Transaction for Discharge of Material Secured Debt Obligations
OTTAWA, Ontario--(BUSINESS WIRE)--Dec 19, 2019--
Eureka 93 Inc. (CSE: ERKA, “Eureka93”) announced today that the current Board of Directors, after having reviewed strategic alternatives, has recommended that the company continue its restructuring phase by executing a full payment transaction for discharge of material secured debt obligations.
Full Payment Transaction
Pursuant to secured creditors being able to act on their security, the current Board of Directors of Eureka 93 Inc. (E93) on December 18, 2019 also resolved to agree to a Full Payment Transaction to effect a reduction of debt of $18,900,000.00 USD as follows:
The Board of E93 plans to be in a position to complete residual restructuring matters over the coming weeks and begin to focus on development in Artiva Inc. and the Cannabis license.
Eureka 93 Inc. (Eureka93) is an integrated life sciences company focused on the cultivation, extraction, and distribution of cannabis and hemp-derived cannabidiol (CBD) through it’s Health Canada licensed Artiva facility in Ottawa, Canada and subsidiary operations. For more information, please visit: Eureka93.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20191219005480/en/
CONTACT: Media and Investors
firstname.lastname@example.orgSeann Poli, Co-CEO
Owen Kenney, Co-CEO
+1 (613) 434-2751
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH FINANCE OTHER SCIENCE PHARMACEUTICAL SCIENCE
SOURCE: Eureka 93 Inc.
Copyright Business Wire 2019.
PUB: 12/19/2019 10:02 AM/DISC: 12/19/2019 10:02 AM