Sproutly Canada, Inc. (CSE: SPR) (FRA: 38G) (OTCQB: SRUTF) ("Sproutly" or the "Company") today announced the Company’s financial results for the first quarter ended May 31, 2020.
Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) ("Sproutly" or the "Company") announces that the Company has entered into a third supplemental indenture dated September 23, 2020 (the "Third Supplemental Indenture") between the Company and TSX Trust Company, as trustee, which amends the terms of its convertible debenture indenture dated October 24, 2018 (the "Original Indenture"), as amended by the first supplemental indenture dated April 24, 2020 (the "First Supplemental Indenture") and as further amended by the second supplemental indenture dated July 23, 2020 (the "Second Supplemental Indenture", and together with the Original Indenture and the Third Supplemental Indenture, the "Indenture") providing for the issue of 8.0% senior unsecured convertible debentures in the aggregate principal amount of up to $10,750,000 (the "Debentures").
Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) ("Sproutly" or the "Company") announces that it intends to settle an aggregate of $182,340 of payroll indebtedness owed to certain current and former employees for past services rendered through the issuance of 2,604,867 common shares at a deemed issuance price of $0.07 per share. The Company determined to satisfy the indebtedness with common shares in order to preserve its cash for working capital. The shares will be issued upon acceptance by the CSE and approval by the directors of the Company. None of the common shares issued in satisfaction of the indebtedness will be subject to any resale restrictions.