Columbia Care Inc. (NEO: CCHW) (CSE:CCHW) (OTCQX:CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest and most experienced cultivators, manufacturers and providers of cannabis products in the United States, today announced that it has received the requisite consent of holders (“Noteholders”) of its 13.00% senior secured notes due May 14, 2023; 5.00% senior secured convertible notes due December 19, 2023; and 6.00% senior secured convertible notes due June 29, 2025 (collectively, the “Notes”) for the proposed amendments to the trust indenture dated May 14, 2020, as supplemented, governing the Notes (the “Indenture”). The key amendment significantly increases the Company’s borrowing capacity to support growth initiatives.
The proposed Indenture amendments are described in the consent solicitation statement (“Solicitation Statement”), which was mailed to Noteholders on or about January 10, 2022 and was filed on SEDAR. As described in the Solicitation Statement, Noteholders who deliver a valid consent are eligible to receive a consent fee of US$10.00 for each $1,000 principal amount of Notes, subject to conditions described in the Solicitation Statement. A supplemental indenture giving effect to the Indenture amendments will be filed on SEDAR following its execution.
