Entourage Health Corp. (
TSX-V:ENTG)
(
OTCQX:ETRGF) (
FSE:4WE)
(“
Entourage” or the “
Company”), a
Canadian producer and distributor of award-winning cannabis
products, is pleased to provide an update on the previously
announced proposed amendments (the
“Proposed
Amendments”) to the trust indenture dated
as of September 25, 2019 between TSX Trust Company and the Company
governing the Company’s 8.5% unsecured convertible debentures due
September 25, 2022 (the
“Debentures”). As
previously announced, the Company intends to enter into a
supplemental indenture with TSX Trust Company on or prior to June
30, 2022 to give effect to the Proposed Amendments (the
“Supplemental Indenture”), provided that the board
of directors of the Company shall retain the right not to effect
the Proposed Amendments at any time prior to executing the
Supplemental Indenture. The Company expects to provide a further
update in respect of the Proposed Amendments and the entering into
of the Supplemental Indenture on or about June 27, 2022.
Additionally, prior to entering into the
Supplemental Indenture, the Company intends to finalize certain
amendments to its existing senior secured credit facilities due
June 30, 2022 (collectively, the “Existing Credit
Facilities”), including with respect to the extension of
the maturity dates of the Existing Credit Facilities and with
respect to an additional advance of funds under one or more of the
Existing Credit Facilities. Further details regarding the proposed
amendments to the Existing Credit Facilities will be disclosed once
the terms of such amendments have been finalized.
Visit Entourage’s website here to access the
latest Company updates.
About Entourage Health
Corp.
Entourage Health Corp. is the publicly traded
parent company of Entourage Brands Corp. (formerly WeedMD RX Inc.)
and CannTx Life Sciences Inc., licence holders producing and
distributing cannabis products for both the medical and adult-use
markets. The Company owns and operates a state-of-the-art hybrid
greenhouse and processing facility located on 158-acres in
Strathroy, ON; a fully licensed 26,000 sq. ft. Aylmer, ON
processing facility, specializing in cannabis extraction; and a
micropropagation, tissue culture and genetics centre-of-excellence
in Guelph, Ontario. With its Starseed Medicinal medical-centric
brand, Entourage has expanded its multi-channeled distribution
strategy. Starseed’s industry-first, exclusive partnership with
LiUNA, the largest construction union in Canada, along with
employers and union groups complements Entourage’s direct sales to
medical patients. Entourage’s elite adult-use product portfolio
includes Color Cannabis, Saturday Cannabis and Royal City Cannabis
Co.– sold across eight provincial distribution agencies. The
Company also maintains strategic relationships in the seniors’
market and supply agreements with Shoppers Drug Mart. It is the
exclusive Canadian producer and distributor of award-winning
U.S.-based wellness brand Mary’s Medicinals sold in both medical
and adult-use channels. Under a collaboration with The Boston Beer
Company subsidiary, Entourage is also the exclusive distributor of
cannabis-infused beverages ‘TeaPot’ in Canada, expected to launch
in 2022.
For more information, please visit us at
www.entouragehealthcorp.com
Follow Entourage and its brands on LinkedIn
Twitter: Entourage, Color Cannabis, Saturday
Cannabis, Starseed & Royal City Cannabis Co.
Instagram: Entourage, Color Cannabis, Saturday
Cannabis, Starseed & Royal City Cannabis Co.
For further information, please
contact:
For Investor Enquiries:Valter
Pinto or Scott EcksteinKCSA Strategic
Communications1-212-896-1254entourage@kcsa.cominvestor@entouragecorp.com
For Media Enquiries:Marianella
delaBarreraSVP, Communications & Corporate
Affairs416-897-6644marianella@entouragecorp.com
Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation which are
based upon Entourage's current internal expectations, estimates,
projections, assumptions and beliefs and views of future events.
Forward-looking information can be identified by the use of
forward-looking terminology such as "expect", "likely", "may",
"will", "should", "intend", "anticipate", "potential", "proposed",
"estimate" and other similar words, including negative and
grammatical variations thereof, or statements that certain events
or conditions "may", "would" or "will" happen, or by discussions of
strategy. Forward-looking information included in this press
release includes, but is not limited to, statements in respect of
entering into of the supplemental indenture effecting the Proposed
Amendments and approval of the Proposed Amendments from the TSX
Venture Exchange.
The forward-looking information in this news
release is based upon the expectations, estimates, projections,
assumptions and views of future events which management believes to
be reasonable in the circumstances. Forward-looking information
includes estimates, plans, expectations, opinions, forecasts,
projections, targets, guidance or other statements that are not
statements of fact. Forward-looking information necessarily involve
known and unknown risks, including, without limitation, risks
associated with general economic conditions; adverse industry
events; loss of markets; future legislative and regulatory
developments; inability to access sufficient capital from internal
and external sources, and/or inability to access sufficient capital
on favourable terms; the cannabis industry
in Canada generally; the ability of Entourage to
implement its business strategies; the COVID-19 pandemic;
competition; crop failure; and other risks.
Any forward-looking information speaks only as
of the date on which it is made, and, except as required by law,
Entourage does not undertake any obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise. New factors emerge from
time to time, and it is not possible for Entourage to predict all
such factors. When considering this forward-looking information,
readers should keep in mind the risk factors and other cautionary
statements in Entourage’s disclosure documents filed with the
applicable Canadian securities regulatory authorities on SEDAR at
www.sedar.com. The risk factors and other factors noted in the
disclosure documents could cause actual events or results to differ
materially from those described in any forward-looking
information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE
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