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Eureka 93 Inc. Continues Restructuring and Executes Set of Full Payment Transaction for Discharge of Material Secured Debt Obligations

December 19, 2019 GMT

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.

About Eureka93

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

info@eureka93.comSeann 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

http://www.businesswire.com/news/home/20191219005480/en