1933 industries announces repurchase and cancellation of convertible debentures

1 week ago 1

1933 Industries (OTCQB:TGIFF) said that it has entered into a Debenture Repurchase Agreement with two arm's length parties, for the repurchase and cancellation of a portion of company's outstanding unsecured convertible debentures.
Company will repurchase $475,000 in principal value of debentures for a total cash consideration of $47,500 CAD.
Debentures will be cancelled upon closing, reducing outstanding liabilities. $2.598 mln in principal value will remain outstanding post-transaction.
Repurchase conducted under terms of existing trust indenture; closing expected on or around September 5, pending customary conditions and regulatory approvals.
TGIFF is -1.35% to $0.0073
Source: Press Release