CBGL - Cannabis Global completes significant debt cancellations over $800K in debt extinguishment

• Cannabis Global ( OTCPK:CBGL ) has announced the successful conclusion of debt settlement negotiations with two debtholders resulting in the elimination of ~$0.81M of long term debt from the Co.’s balance sheet.
• The Co. indicated it has entered into additional debt settlement negotiations aimed at further reducing the Co.’s debt burden, which it anticipates will be completed early in Q2.
• In total, $0.81M will be removed from the Co.’s balance sheet as of Nov. 30, 2022. $0.11M of long-term debt was canceled in exchange for the issuance of $0.75M of Cannabis Global common shares at $.001/share.
• "These debt reductions will also help to reduce future market dilution and help support a healthier market cap as well as enterprise value as we believe CBGL is greatly undervalued." said Mr. Edward Manolos, Chairman, and CEO.

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