Brief: Creso Pharma Announces LOI For Abby And Finn And Restructuring Of Existing Debt

Melodiol Global Health

27/01/2023 10:11

Jan 27 (Reuters) - Creso Pharma Ltd  CPH.AX :
    * LOI FOR ABBY AND FINN AND RESTRUCTURING OF EXISTING DEBT
    * ENTERED INTO A NON BINDING LETTER OF INTENT TO ACQUIRE
ASSETS OF
ABBY AND FINN LLC
    * UPON COMPLETION, ACQUISITION TO TAKE CO'S LAST QUARTER
ANNUALISED REVENUE TO A$27.5M
    * HAS TAKEN STEPS TO SIMPLIFY ITS BALANCE SHEET BY MODIFYING
STRUCTURE OF AN EXISTING LOAN
    * CONVERTING LOAN DEED AND LOAN MODIFICATION DOCUMENT SIGNED
WITH
LA PLATA CAPITAL LLC
    * UNDER TERMS, $1.3 MILLION OF LA PLATA'S EXISTING $2M DEBT
WITH
SSH WILL BE SWAPPED FOR US$1.3 MILLION OF CRESO SECURED NOTES

Source text for Eikon:  ID:nASX5QWyq3 
Further company coverage:  CPH.AX 
 ((Reuters.Briefs@thomsonreuters.com;))