Delta 9 announces redemption of convertible debentures

Delta 9 announces redemption of convertible debentures

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WINNIPEG, Manitoba, July 26, 2022 (GLOBE NEWSWIRE) — DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) (“Delta 9” or the “Company”) is pleased to announce the completion of the cash redemption of its 8.5% unsecured convertible debentures issued on July 17, 2019 and a Maturity Date on July 17, 2022 (the “Convertible Bonds”). The $11.8 million cash payment represents a full redemption of the convertible debentures. The convertible debentures were previously traded on the Toronto Stock Exchange under the trading symbol “DN.DB”.

The Company satisfied the pre-disbursement conditions required to draw down $11.8 million under its ConnectFirst Credit Union credit facility while simultaneously completing the cash redemption of the convertible debentures. The Company’s drawdown of its $11.8 million credit facility has a repayment term of 60 months at a fixed rate of 4.55% per annum, amortized over 144 months.

For more information contact:

Investor and media contact:
Ian Chadsey Vice President Corporate Affairs
mobile phone, mobile phone: 204-898-7722
E-mail: [email protected]

About Delta 9 Cannabis Inc.

Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The Company sells cannabis products through its wholesale and retail distribution channels and sells its cannabis grow capsules to other companies. Delta 9’s wholly owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medicinal and recreational cannabis and operates an 80,000 square foot manufacturing facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9 shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTCQX under the symbol “DLTNF.” For more information, visit www.delta9.ca.

Disclaimer for Forward-Looking Information

Certain statements in this press release are forward-looking statements that reflect expectations…



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