Bhang enters $100K debt settlement agreement

Company will repay lender, issue shares and warrants.

Bhang Inc. has entered into a debt settlement agreement with an arm's length lender to settle $100,000 in debt, plus interest.

Under the agreement, Bhang will make cash payments to the lender, in installments of $20,000 and C$2,500 on each of the following dates: March 31, May 1, May 31 and June 30.

The company will issue 2,113,503 subordinate voting shares in the capital of Bhang, representing a price of C$0.025 per settlement share. Bhang will also issue 100,000 share purchase warrants of Bhang exercisable at a price of C$0.05 per subordinate voting share, for a period of one year from the date of issuance.

Bhang has offered a portfolio of premium brands for over a decade. With roots in master chef-created chocolate and cannabis edibles, Bhang continues to grow as a global consumer packaged goods company.

Alyse Thompson-Richards has held many positions with BNP Media, first serving as an intern at Candy Industry Magazine in summer 2012. She joined Candy Industry's staff full time as associate editor in August 2016 after a few years at newspapers in West-Central Illinois, becoming managing editor in March 2019. Alyse has also served on Cannabis Products Insider since March 2019. She has bachelor’s degrees in journalism and Spanish from Western Illinois University.