FNNZF - FinCanna Capital to extend maturity date reduce conversion price on convertible debentures

• FinCanna Capital ( OTCPK:FNNZF ) is set to extend the maturity date of its outstanding convertible debentures by 12 months and reduce the conversion price from $0.15 to $0.005 per share.
• The company has received debenture holder approval for the amendments, which also include allowing, for up to two more consecutive quarters, interest payments to be satisfied through the issuance of shares.
• The investment company plans to convert an aggregate of 55% of the currently outstanding debentures.
• FNNZF's payment of interest through issuance of shares for the third (or more) consecutive quarters will require further debenture holder approval, along with the approval of the Canadian Securities Exchange.
• Additionally, the company said that it anticipates being placed on an inactive status by the Canadian Securities Exchange.
• It is set to change its trading symbol to CALI.X.
• Source: Press Release

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