Herbal Dispatch Announces Extension of Convertible Debentures

Core Viewpoint - Herbal Dispatch Inc. has amended the terms of its unsecured convertible debentures, extending the maturity date from January 31, 2026, to January 31, 2028, while maintaining other terms such as a 14% annual interest rate and a conversion price of CAD$0.06 [1][2]. Group 1: Amendment Details - The final amendment to the Convertible Debentures extends the maturity date to January 31, 2028, with the interest rate remaining at 14% per annum, a conversion price of CAD$0.06, and a threshold price of CAD$0.12 [2]. - The Company obtained an exemption from the Canadian Securities Exchange regarding certain requirements for convertible debenture amendments [3]. Group 2: Related Party Transactions - The amendment constitutes a "related party transaction" as both Mr. Malcolm and Mr. Dhaliwal are directors of the Company, requiring formal valuation and minority shareholder approval unless exemptions apply [4]. - The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements, asserting that the fair market value involved does not exceed 25% of the Company's market capitalization [5]. - The Board of Directors unanimously approved the Amendment, with Mr. Malcolm and Mr. Dhaliwal abstaining from the resolution [6]. Group 3: Company Overview - Herbal Dispatch Inc. is a leading operator of cannabis e-commerce platforms in Canada, providing quality medical and recreational products to consumers [8]. - The Company is actively expanding through exports to international markets, positioning itself for sustained growth and new revenue opportunities [8].