MEDFORD, Ore. – Holders of the remaining US$3.3 million in Grown Rogue International Inc. outstanding debentures have elected to convert early, resulting in the issuance of 19,559,500 common shares.
“We would like to thank our debenture holders for converting with more than two years remaining on their maturity and continuing to show their commitment and alignment to Grown Rogue’s long-term strategy. This early conversion will save the Company US$0.7 million of cash interest payments and reduce our total leverage. Coupled with our recently announced bank financing, our balance sheet is free of any material debt maturities for at least the next three years,” said Obie Strickler, CEO of Grown Rogue.
Following the conversion, the Company has 246,852,938 common shares issued and outstanding and 269,692,563 common shares on a fully diluted basis.
About Grown Rogue
Grown Rogue International Inc. (CSE: GRIN | OTC: GRUSF) is a craft cannabis company operating in Oregon, Michigan, New Jersey and Illinois, focused on delighting customers with premium flower and flower-derived products at fair prices. The Company’s strategy is to pursue capital efficient methods to expand into new markets, bringing craft-quality product at fair prices to more consumers. The Company also continues to make modest investments to improve outdoor craft cultivation capabilities in preparation for eventual interstate commerce.
