CALGARY,
AB, Jan. 30, 2024 /CNW/ - CE Brands Inc.
(TSXV: CEBI) ("CE Brands" or the "Company") is pleased to announce
that, in connection with its debt restructuring previously
announced on November 20, 2023, the
Company has entered into definitive amending and waiver agreements
with the holders of its senior secured debentures in the principal
amount of $5,000,000 (the "Debenture
Notes") to amend such Debenture Notes to: (i) extend the maturity
date of the Debenture Notes from April 30,
2024 to October 1, 2025, (ii)
waive any pre-existing rights associated with a contractual breach
in relation to the bankruptcy of eBuyNow eCommerce Ltd., (iii)
waive any pre-existing rights associated to a contractual breach in
relation to any event prior to the date the definitive amending and
waiver agreements, including any failure to pay interest or
principal during such period, and (iv) amend the interest payment
frequency to quarterly payments commencing on April 1, 2024.
About the Company
The Company develops products with leading manufacturers and
iconic brand licensors by utilizing proprietary data that
identifies key market opportunities.
Neither the TSX Venture Exchange nor its regulation services
provider (as defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this press
release.
For further information, please visit the website at
www.cebrands.co
Forward-looking
Information
This press release may contain forward-looking information
within the meaning of securities legislation, concerning the
Company's business and affairs. In certain cases, forward-looking
information can be identified by the use of words such as "plans",
"expects" or "does not expect", "intends", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of
such words and phrases, or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken",
"occur", or "be achieved".
Statement of past performance should not be construed as an
indication of future performance. Forward-looking statements
involve significant risks and uncertainties, should not be read as
guarantees of future performance or results, and will not
necessarily be accurate indications of whether or not such results
will be achieved. A number of factors, including those discussed
above, could cause actual results to differ materially from the
results discussed in the forward-looking statements. Any such
forward-looking statements are expressly qualified in their
entirety by this cautionary statement. Readers are cautioned not to
place undue reliance on such forward-looking statements.
Forward-looking information is provided as of the date of this
press release, and the Company assumes no obligation to update or
revise them to reflect new events or circumstances, except as may
be required under applicable securities legislation.
SOURCE CE Brands Inc.
