Acreage Holdings Inc.
10/15/2024 | Press release | Distributed by Public on 10/15/2024 14:34
Material Agreement Form 8 K
Item 1.01 Entry into a Material Definitive Agreement.
On October 9, 2024, Universal Hemp, LLC (the "Borrower"), Universal Hemp II, LLC and Universal Hemp Canada ULC, each wholly owned subsidiaries of Acreage Holdings, Inc., and Canopy USA, LLC ("CUSA"), as successor assignee to 11065220 Canada Inc. ("11065220"), entered into a First Amending Agreement to Debenture (the "Amendment") that amended that certain secured debenture between the Borrower and CUSA (as successor assignee to 11065220) dated September 23, 2020 (the "Debenture"). The Amendment provides for the payment of interest accruing on obligations under the Debenture to be paid in kind, provided that the Borrower may elect to pay any portion of interest due in cash rather than in kind.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment filed as Exhibit 10.1 to this Current Report on Form 8-K.