Aleafia Health convertible bond forbearance agreement extended 14 days

Chicago, March 1 – Aleafia Health Inc. provided a corporate update regarding its outstanding listed convertible debentures issued on June 27, 2019 and maturing on June 27, 2022 in a press release Tuesday evening.

The forbearance agreement has been extended until March 14 to allow negotiations to continue.

The initial agreement had the backing of noteholders representing 58% of the debentures. Since that time noteholders representing an additional 4% of the notes have signed on to the agreement.

The agreement automatically renews for 14-day periods unless advance notice to the contrary is provided.

The company and the holders have agreed to work expeditiously and in good faith to negotiate a potential transaction to amend the terms associated with the convertibles.

Aleafia Health is a Toronto-based cannabis health and wellness company.

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