Delota Provides Corporate Update and Early Redemption of Convertible Debentures

Corporate Update - Delota Corp. has completed the early redemption of Senior Secured Convertible Debentures amounting to $900,000 plus accrued interest [1][4] - The Debentures were originally issued on December 19, 2023, and were set to mature 18 months from issuance with a 1% monthly interest rate [2][3] Debenture Details - Each Debenture had a principal amount of $1,000 and was convertible into shares at a price of $0.10 per share [3] - The associated warrants allowed holders to acquire additional shares at a price of $0.15 per share, expiring on December 19, 2026 [3][4] Security and Obligations - The obligations under the Debentures were secured by a general security agreement from the Company and its subsidiaries, which will be discharged following the Prepayment [5] Management Changes - Christina Pan, the Chief Operating Officer, has left the Company as of April 16, 2025, and the position will not be replaced, indicating a restructuring for a more efficient management structure [6] Company Overview - Delota is the largest omni-channel specialty vape retailer in Ontario, aiming to expand nationally in the specialty retail market for nicotine vape and alternative tobacco products [7][8] - The Company's growth strategy includes expanding its flagship brand, enhancing its e-commerce platform, and pursuing strategic mergers and acquisitions [8]