Zenabis Announces 5 Million in Additional Debt Financing

Zenabis Announces $25 Million in Additional Debt Financing – RICH TV LIVE – AUGUST 21, 2019 – BREAKING NEWS

What’s up this is rich from rich tv live and we have some breaking news from xena bits and let’s break it down right now xena beth announces 25 million in additional debt financing an extension and partial conversion of secured convertible notes these news is just breaking right now zenab is global inc xena in canada zeebee is f in america is pleased to announce

That it has today signed definitive documentation with respect to 25 million otherwise known as the new senior debt in you senior secured debt financing otherwise known as the financing from rc morris capital management limited the financing has been affected by way of mending and restating the debenture representing senior secured debt in the principal amount

Of 25 million provided by the existing senior lender otherwise known as the original senior debt and together with the new senior debt otherwise known as the senior debt such that the amended and restated debenture otherwise known as the amended and restated venture in which our cm is now one of the lenders now represents 50 million in secured senior debt i’m

Gonna break this down but i want to read this first you guys know exactly what the terms are the new senior debt will bear interest at a rate of 14% per year so 50 million at 14% a year would be seven million dollars a year of interest on 50 million dollars calculated and payable monthly so let’s break that down so they will be able to pay back an average of about

Seven million a year divided by 12 600 thousand a month that’s no big deal like no big deal oh my goodness the senior debt will have a maturity date as of june 30th 2020 the company will have the right to reap any principle amount of the senior debt so they have the right to pay it out at any time in connection with the new senior debt the company has paid certain

Customary fees including a structuring fee to rcm and an amount equal to five percent of the new senior debt and issued rcm warrants exercisable to acquire nine hundred two thousand five hundred for common shares of the company each a common share at any time until august 21st 2022 at an exercise price of a dollar thirty eight per common share the exercise price was

Determined based on the five-day volume weighted average price of the common shares on the tsx immediately preceding the date here of concurrently the holders of the supportin ated secured convertible notes otherwise known as the convertible notes of the company have agreed to extend the maturity date of the convertible notes to june thirtieth 2020 and subordinate

The convertible notes to new senior debt in consideration there of the conversion price of convertible notes has been reduced to a dollar fifty four and the interest rate of the convertible notes has been increased to eleven percent the company will also have a right to prepay the convertible notes and anytime on or after october 17 2019 which i assume they will

Do the holders of the convertible notes have also agreed to convert effective today and at the new conversion price thirty percent of the principal amount of the convertible notes such that the aggregate outstanding principal amount of the convertible notes will be approximately seventeen point four million dollars the company has also issued the holders of the

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Convertible notes warrants exercisable to acquire an aggregate of 1.3 million common shares at any time until august 21st 2022 at an exercise price of $1 eighty-two per common share this is and you grieve chief executive officer of xena vez we are pleased to be strengthening our financial position through securing this additional senior debt reducing the principal

Amount outstanding of our existing secured convertible notes and extending the maturity date of our existing secured convertible notes said and ruby reve chief executive officer of xena bus’ these developments ensure we have a surplus of capital to complete the expansion of our facilities to achieve an annual design capacity of a hundred and forty three thousand

Two hundred kgs of dried cannabis and become cashflow positive upon completion of our current capital program a lot absolutely they now have the funding they need to get to full capacity people do you understand what this means in addition we note that xena bez does not intend to raise incremental debt financing raise convertible debt or issue incremental equity

Capital in order to pursue the expansion of our cultivation capacity instead the next priority of xen abyss is the placement of the senior debt and the convertible notes with standard bank financing yes yes which will be in a much better interest rate than 14% i promise you that and will not be diluted upon completion of a refinancing of the senior debt and the

Convertible notes and the transition to a permanent capital structure xen abyss intends to publish leveraged targets to provide for a predictable ongoing capital structure about zen abyss zen abyss is a significant canadian licensed cannabis cultivator of medical and recreational cannabis and a propagator and cultivator of floral and vegetable products zen abyss

Employ staff coast-to-coast across facilities in alphaville new brunswick delta aldergrove pittman and langley british columbia and stellar dhin nova scotia in addition to gaining technologically advanced knowledge of plant propagation the recent addition of state-of-the-art greenhouses in langley pitt meadows and aldergrove provides an abyss with 3.5 million

Square feet of facility space that can if fully converted be dedicated to cannabis production if all facility space adds enemas alta ville zeinab estelle orton and zen abyss langley is fully converted and dedicated to production zen abyss will own and have access to six hundred and thirty five thousand square feet of high-quality indoor cannabis production space

As well as 2.1 million square feet of greenhouse cannabis production space at its language facility with this production strategically positioned on canada’s coasts zen abyss expects these facilities to have an annual design capacity of a hundred and forty three thousand two hundred kgs of dried cannabis by the third quarter of 2019 you mean now these facilities if

Fully built out and converted for cannabis production would have an annual design capacity to yield approximately four hundred and ninety thousand 800 kgs of dried cannabis annually for both national and international market distribution making them one of the biggest in the world by the way an additional seven hundred thousand square feet of greenhouse space will

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Be used to continue the existing propagation business which is the flowers and vegetable and produce industrial hemp and can be converted to cannabis production at such a time that is beneficial to the strategic position of the company the zeinab is brand name is used in the cannabis medical market while the namaste buys enemas and blizzard brand names are used in

The cannabis i don’t use recreational market and the true book brand name is used for zen abyss kombucha products wow that’s the big news guys it’s breaking i keep telling you guys any this is going to move forward regardless of the price i promise you this this is a company that’s going to be moving ford in the right direction yeah maybe some days they’re gonna go

Down maybe some days insiders are gonna sell maybe some days things are not gonna go your way but long-term this is a company that reminds me of canopy growth two years ago which was doing the exact same thing aurora cannabis two years ago organa grabbed two years of growth khronos group two years ago áfreeá two years ago they were all doing the exact same thing

You guys gotta remember that zen abyss did their rto in january zen abyss is a baby okay thank you guys for the 14 likes we got sixty nine people watching can we up the likes people what’s up antonio how you doing shelby how you doing peter hey doing drew drew dee says same thing happened with i anthis the other day if i’m not mistaken shelby says they sure know

How to confuse us with all these terms at the end of the day what they’re doing is they’re cleaning up diluted toxic funding and replacing it with a loan at a 14 percent interest rate versus taking on diluted toxic funding which means in order in the past for people to get paid back their money they’ll own the company they were selling shares which is driving the

Price down now they have the ability to pay back this loan monthly at a tune of about 600 grand a month if you’re making 25 million a quarter and that number is growing what’s six hundred grand a month it’s peanuts this is a good thing presented this mark my words judy says it may be a little different i don’t know about senior debt my average on zen abyss right

Now is a dollar 76 chris dearing says very nice xena is a beast and i believe xena long term is going to be a giant jtx 183 says hey rich it’s chris from jtx 23 i’m happy xena is getting stronger and so am i yes this hat is from believe because if you want to be a part of this cannabis sector you need to believe you need to believe so that you can achieve until

You believe you will never achieve shelby says liking the sound of all of this positioning themselves to be a giant it’s a process but patience will be rewarded it will definitely be rewarded i have no doubt in my mind that patience will be rewarded uranium stock you you you up another 5% nice mr. jordan says heck so is getting squashed that’s a buying opportunity

David allen says agra fill mp says happy about this varun cheering on jordan says nice loading 5k more shares david allen fitzpatrick says push the leg button rudy says squash the like people and rd sully says xena doesn’t sound like a business looking to be acquired love it well at the end of the day whether they get acquired or not they are doing the right things


To raise capital so they have money to scale up their production and get it to become one of the highest production capacity cannabis companies in the world and that’s why i believe zen abyss is going to be a giant i love this news share this news everywhere make it go viral smash the like button and comment down below zen abyss they got 50 million bucks now at

14% interest they’ve got the right to clean out all their convertible debt which i believe they will by october so stay tuned i’ll keep you updated if anything else happens i love this news this is rich for mitch tv live if you’re not winning you’re not watching we bring in the news and we’ll bring it to you first zen abyss 50 million senior debt at a 14 percent

Interest rate so break it down fifty million dollars at a 14 percent interest rate is about seven million dollars a year paid monthly which zen abyss can now pay back six hundred thousand dollars a month out of the 25 million a month are making that’s peanuts they’re gonna have no problem paying this monthly nuts and that’s why i believe this is a great thing for

Zen abyss and i believe that long term we’ve got ourselves a giant and we’re still able to pick this baby up for a dollar a dollar this is a 10x this is a future 10x and i want you to remember this day august 21st 2019 the day that rich t v live predicted that zen abyss would go up a thousand percent you come book it remember this day august 21st 2019 the day that

Rich t v live predicted the zen abyss would go up a thousand percent i’m gonna come back in a couple years and we’re gonna remember this video and i’m gonna show it to you just like i did with organa graham just like it did with khronos group just like i did with village farms just like i did with aurora cannabis just like i did with africa just like i did with

Turay just like it did with canopy growth zen abyss is the next wave they’re a giant they’re a beast they call the money they need now they don’t need to dilute the stock now they need to do is just show the results just prove it with your numbers prove it with your revenue and prove it with your earnings let’s go xena it’s time for the bull market to charge or

Still in a bear market i know i know we’re still in a bear market i know we’re still in a bear market but the bulls are getting ready to run who’s your boy rich mister you live and i’m oh peace we winning mark my words we’d be winning and we’d be winning big i got twenty six thousand shares of xena and i’m going for more i’ll see you soon

Transcribed from video
Zenabis Announces $25 Million in Additional Debt Financing By RICH TV LIVEliveBroadcastDetails{isLiveNowfalsestartTimestamp2019-08-21T173634+0000endTimestamp2019-08-21T175150+0000}

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