NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
Vancouver BC / NEWSWIRE / March 13, 2020 /CNW/ - Agrios Global Holdings Ltd. (CSE: AGRO) (OTCQB: AGGHF) (FSE: ØSA - WKN-A2N62K) ("Agrios" or the "Company") announces that pursuant to the 8% unsecured convertible debentures in the principal amount of $1,010,000 (the “June 2019 Debentures”) previously issued on June 14, 2019, and the 18% unsecured convertible debentures (the “September 2019 Debentures”) previously issued on September 9, 2019, September 30, 2019, and November 30, 2019, the Company will issue common shares in the capital of the Company (the “Common Shares”) in satisfaction of interest payments on the outstanding June 2019 Debentures and September 2019 Debentures for the period ended December 31, 2019.
The Company will issue an aggregate of 88,544 Common Shares at C$0.50 per Common Share to holders of the June 2019 Debentures in satisfaction of an aggregate of C$44,273.97 interest payable. The Company will also issue an aggregate of 373,102 Common Shares at C$0.37 per Common Share to holders of the September 2019 Debentures in satisfaction of an aggregate of C$138,049.40 interest payable.
Additionally, the Company has entered into a debt settlement agreement with an arm’s-length party (the “Creditor”) to settle an aggregate C$553,380.86 in debt (the “Debt”). In settlement of the Debt, the Company will issue an aggregate of 1,600,000 common shares in the capital of the Company (the “Debt Shares”). The Debt will be completely satisfied and extinguished upon the issuance of the Debt Shares.
All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Closing of the Debt Settlement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Canadian Securities Exchange.
About Agrios Global Holdings Ltd.
Agrios Global Holdings is a data analytics-driven agriculture technology and services company advancing the latest innovations in indoor growing science. The Company owns, leases and manages properties and equipment for eco-sustainable agronomy and provides advisory services to support all aspects of aeroponic cultivation in the cannabis sector. Agrios is actively pursuing new opportunities to expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions. Based in Vancouver, BC. Agrios is managed by a highly accomplished team of experienced industry and capital markets experts who are committed to the growth of the company.
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This news release was prepared by management of Agrios, which takes full responsibility for its contents. The Canadian Securities Exchange ("CSE") has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Agrios' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to corporate strategy and Agrios’ ability to execute such strategy, future developments regarding Agrios’ expansion into various markets including numerous states within the United States of America, and into Asia, expected costs of hemp fiber, intended development and sales of hemp products, market demand for hemp products, and the business and operations of Agrios as it relates to the Yunnan Province.
Although Agrios has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Agrios disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Agrios does not assume any liability for disclosure relating to any other company mentioned herein.