FLOOF - Flower One amends term debt master lease agreements for ongoing restructuring

• Flower One ( OTCQX:FLOOF ) announced its advancements with the ongoing restructuring, including the restructuring of its term debt and to its master lease.
• The company and certain subsidiaries entered into a Term Debt Modification Agreement with RB Loan Portfolio for its existing $45.65M Term Debt; it will now be able to defer interest payments through Oct.31, 2022 for providing additional liquidity to the business, reduce the cash interest payments by 30%, extend the maturity date to Jan.31, 2026 and pay $9M to the Term Lender on Sep.30, 2023.
• The company has the option to pay this First Loan Paydown on Jan. 31, 2024 with a 2.5% penalty.
• The company through its subsidiaries has also entered into a Master Lease Modification Agreement related to the equipment lease financing of certain equipment at the Bruce Facility wherein it can defer certain payments through Oct.31, 2022, revising the amortization schedule to enable a reduction in monthly payments for master lease duration and extend the maturity date of the Master Lease to Mar.3, 2025.

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