SFWJ/MedCana Will Eliminate All Convertible Debt by the End of the 3rd Quarter
SFWJ, operating as MedCana, a cannabis and agricultural technology holding company, has announced the elimination of all Convertible Debt from its Balance sheet by the end of the 3rd Quarter. The company is set to remove $450,000 of convertible debt, with debtholders agreeing to swap their debt for Preferred shares carrying the same rights and interest rate. This move aims to boost investor confidence and prepare the company for its next growth phase.
As part of the agreement, the new preferred shareholders have committed to a 6-month lock-up period. MedCana's CEO, Gabriel Diaz, emphasized the company's focus on revenue growth and enhancing shareholder value, assuring investors that they need not worry about debt conversion impacting their share value.
SFWJ, operante come MedCana, una holding di tecnologia agricola e cannabis, ha annunciato l'eliminazione di tutto il Debito Convertibile dal suo bilancio entro la fine del 3° trimestre. L'azienda prevede di rimuovere 450.000 dollari di debito convertibile, con i creditori che accettano di scambiare il loro debito per azioni privilegiate con gli stessi diritti e tassi di interesse. Questa mossa mira a rafforzare la fiducia degli investitori e preparare l'azienda per la sua prossima fase di crescita.
Come parte dell'accordo, i nuovi azionisti privilegiati si sono impegnati a un periodo di lock-up di 6 mesi. Il CEO di MedCana, Gabriel Diaz, ha sottolineato l'attenzione dell'azienda sulla crescita dei ricavi e sull'aumento del valore per gli azionisti, assicurando agli investitori che non devono preoccuparsi della conversione del debito che influisce sul valore delle loro azioni.
SFWJ, operando como MedCana, una compañía de tecnología agrícola y cannabis, ha anunciado la eliminación de toda la Deuda Convertible de su balance para el final del 3er trimestre. La empresa planea eliminar 450,000 dólares de deuda convertible, con los acreedores acordando intercambiar su deuda por acciones preferentes que tienen los mismos derechos y tasa de interés. Esta medida busca fortalecer la confianza de los inversores y preparar a la empresa para su próxima fase de crecimiento.
Como parte del acuerdo, los nuevos accionistas preferentes se han comprometido a un período de bloqueo de 6 meses. El CEO de MedCana, Gabriel Diaz, enfatizó el enfoque de la empresa en el crecimiento de ingresos y en mejorar el valor para los accionistas, asegurando a los inversores que no deben preocuparse por la conversión de deuda que impacte en el valor de sus acciones.
SFWJ, 메드카나로 운영되는 대마초 및 농업 기술 홀딩 회사가 3분기 말까지 모든 전환사채를 재무제표에서 삭제하겠다고 발표했습니다. 회사는 450,000 달러의 전환사채를 제거할 예정이며, 채권자들은 같은 권리와 이자율을 가진 우선주로 채무를 교환하기로 합의했습니다. 이 조치는 투자자의 신뢰를 높이는 것을 목표로 하며, 회사의 다음 성장 단계 준비를 위한 것입니다.
합의의 일환으로, 새로운 우선주 주주들은 6개월의 잠금 기간에 동의했습니다. 메드카나의 CEO인 가브리엘 디아즈는 회사가 수익 성장과 주주 가치를 높이는 데 집중하고 있다고 강조하며, 투자자들에게 채무 전환이 그들의 주가에 영향을 미치지 않을 것이라고 안심시켰습니다.
SFWJ, opérant sous le nom de MedCana, une société d'hébergement de technologie agricole et de cannabis, a annoncé l'élimination de toute Dette Convertible de son bilan d'ici la fin du 3ème trimestre. La société prévoit de supprimer 450 000 dollars de dette convertible, les créanciers acceptant d'échanger leur dette contre des actions privilégiées portant les mêmes droits et taux d'intérêt. Cette manœuvre vise à renforcer la confiance des investisseurs et à préparer l'entreprise à sa prochaine phase de croissance.
Dans le cadre de l'accord, les nouveaux actionnaires privilégiés se sont engagés à une période de verrouillage de 6 mois. Le PDG de MedCana, Gabriel Diaz, a souligné l'engagement de l'entreprise envers la croissance des revenus et l'amélioration de la valeur pour les actionnaires, rassurant ainsi les investisseurs qu'ils n'avaient pas à craindre que la conversion de dettes n'affecte la valeur de leurs actions.
SFWJ, das als MedCana tätig ist, ein Unternehmen für Cannabis und Agrartechnologie, hat die Eliminierung aller Wandelanleihen aus seiner Bilanz bis Ende des 3. Quartals angekündigt. Das Unternehmen plant, 450.000 Dollar an Wandelanleihen abzubauen, wobei die Gläubiger zustimmen, ihre Schulden gegen Vorzugsaktien mit denselben Rechten und Zinssätzen zu tauschen. Diese Maßnahme zielt darauf ab, das Vertrauen der Investoren zu stärken und das Unternehmen auf die nächste Wachstumsphase vorzubereiten.
Im Rahmen der Vereinbarung haben sich die neuen Vorzugsaktionäre zu einem 6-monatigen Sperrfrist verpflichtet. Der CEO von MedCana, Gabriel Diaz, betonte den Fokus des Unternehmens auf Umsatzwachstum und die Erhöhung des Shareholder-Value und versicherte den Investoren, dass sie sich keine Sorgen über die Auswirkungen der Schuldenumwandlung auf den Wert ihrer Anteile machen müssen.
- Elimination of $450,000 in convertible debt, improving the company's balance sheet
- Conversion of debt to preferred shares, potentially reducing financial strain
- 6-month lock-up agreement for new preferred shareholders, potentially stabilizing share price
- Issuance of new preferred shares may dilute existing shareholders' equity
AUSTIN, TX / ACCESSWIRE / August 15, 2024 / SFWJ, doing business as Medcana, a holding company focused in the cannabis and agricultural technology sectors, is pleased to announce all Convertible Debt on the Company's Balance sheet will be eliminated and reported in the 3rd Quarter Financial Report.
As the Company prepares to enter its next growth phase, the debtholders worked out a deal to swap the debt for Preferred shares with the same rights and interest rate to boost investor confidence. After being issued the preferred shares, the debtholders agreed to a 6-month lock-up agreement.
Gabriel Diaz, CEO of MedCana, reaffirmed the company's commitment to its shareholders, stating, "Our goal is to build a strong company focusing on revenue and, most importantly, enhanced shareholder value. We want our shareholders to invest with confidence, knowing they will not have to worry about any debt conversion hindering the value of their shares."
About SFWJ/MedCana
Software Effective Solutions/MedCana is a holding company focused on developing companies in the agricultural technology and the cannabis industries. As MedCana moves forward with its expansion plans, the Company remains committed to delivering on its promise of building a solid foundation for future growth of its holdings.
For more information, please visit: www.MedCana.net
Or connect with us via:
MedCana | LinkedIn
Facebook/MedCanaBio
MedCana (@MedCanaCo)/ X (Twitter)
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Contact:
Jose Gabriel Diaz, CEO
www.medcana.net
info@medcana.co
SOURCE: Software Effective Solutions
View the original press release on accesswire.com
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