CLS Holdings USA, Inc. Executes Agreement to Amend Convertible Debentures

On December 27, 2024, CLS Holdings USA, Inc. (OTCMKTS:CLSH) announced in a Form 8-K filing with the Securities and Exchange Commission that the company has entered into a Supplemental Indenture to amend its existing debenture indenture. This agreement, made with Odyssey Trust Company as Trustee, modifies the terms of CLS Holdings’ outstanding US$1,378,778 principal amount unsecured convertible debentures issued on December 12, 2018, known as the “December Debentures.”

The key amendment in this agreement provides CLS Holdings with the option to redeem all outstanding December Debentures in cash at a redemption price of US$600 per US$1000 principal amount of the debentures. As per the terms of the agreement, any accrued but unpaid interest up to and including the redemption date will not be paid and will be canceled.

The decision to amend the terms of the convertible debentures showcases the company’s commitment to managing its financial obligations effectively and optimizing its capital structure for future growth.

In accordance with the disclosure requirements set forth by the Securities and Exchange Commission, CLS Holdings also included the agreement as an exhibit to the Form 8-K filing. The company provided a copy of the Supplemental Indenture dated December 27, 2024, which amends the original Debenture Indenture dated December 12, 2018, along with its subsequent supplements dated March 31, 2021, September 15, 2022, and December 28, 2023.

For further details regarding this agreement, interested parties may refer to the CLS Holdings USA, Inc. Form 8-K filing, accessible through the Securities and Exchange Commission website or other authorized sources.

Investors and stakeholders are advised to stay updated on any further developments by monitoring the company’s announcements and regulatory filings as CLS Holdings USA continues to navigate changes in its financial structures and obligations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CLS Holdings USA’s 8K filing here.

About CLS Holdings USA

CLS Holdings USA, Inc, a diversified cannabis company, focuses on the extraction and conversion of cannabinoids in the United States. It extracts cannabinoids from the cannabis plants and converts into concentrates, that includes oils, waxes, edibles, and shatters; and provides toll processing services.