RVLWF - Revitalist fails to make interest payment on promissory note
2023-05-18 14:32:42 ET
- Revitalist Lifestyle and Wellness ( OTCQB:RVLWF ) has announced that it failed to remit an interest payment to the holder of an unsecured convertible promissory note dated April 19, 2022.
- The principal amount of the Note, being $0.25M, bears simple interest at a rate of 8%/annum, and the maturity date for the repayment thereof is April 19, 2025.
- Interest is to be paid quarterly and the quarterly payment totaled $5,000.
- Upon realizing that the payment was not made when due, the Co. remitted the payment in satisfaction of the amount owed, but shortly after the expiration of the curative period set out in the Note.
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Revitalist fails to make interest payment on promissory note