Eden Empire Inc. has received conditional listing approval to list the common shares of the Company on the Canadian Securities Exchange. The listing is subject to the Company fulfilling certain conditions of the CSE in accordance with the terms of its conditional acceptance letter including the conversion of all outstanding convertible debentures of the Company into Eden Shares. Upon receipt of final listing approval, the Eden Shares will trade under the ticker symbol “EDEN”. The date on which the Eden Shares will commence trading on the CSE will be announced at a later date.
Conversion of Eden Debentures into Eden Shares
In accordance with the terms and conditions of the Eden Debentures, all outstanding Eden Debentures will now convert into Eden Shares at a conversion price of $0.30 per Eden Share. As a result, the principal amount of the approximately $5.9 million outstanding Eden Debentures plus interest accrued thereon will be converted into Eden Shares resulting in an additional 19,679,985 Eden Shares issued and outstanding (not including the accrued interest expected to be converted into Eden Shares).
Eden Empire is a reporting issuer in the business of investments and operations in the cannabis sector and engaging in retail cannabis sales. It is the intention that Eden Empire will expand its business to cannabis cultivation, extraction and processing and become a fully integrated cannabis product company in Canada and the United States. Eden Empire holds a number of trademarks, some with common law rights and some registered trademarks, agreements for the acquisition of licence applicants in various U.S. states and Canadian provinces, and has acquired interests in land where it anticipates operating. Eden Empire has an award winning and established nationwide brand, including a substantial intellectual property portfolio, and a dedicated management team with over 20 years of combined cannabis industry experience. Upon completion of Eden Empire’s currently intended acquisitions, and approval to operate its retail locations, the Company is expected to have the largest retail cannabis footprint in British Columbia.