2023-04-25 07:34:50 ET
- Cannabis dispensaries company GABY ( OTCPK:GABLF ) said on Tuesday that it has agreed to settle outstanding claims in exchange for the amendment of a promissory note.
- The company has entered into a settlement agreement with Miramar Professional Services and the representative of certain vendors.
- As part of the agreement, GABY has agreed to settle certain outstanding indemnity claims against the vendors.
- The vendors have agreed to amend a promissory note issued by GABY, as a result of which there will be a reduction in the principal amount of the original promissory note and in the interest rate accruing on the principal amount for the next 2 years.
- The principal repayment obligations under the original promissory note are also extended.
- Source: Press Release
For further details see:
GABY agrees to settle claims in exchange for promissory note amendment