QualityStocksNewsBreaks – Cannabis Global (CBGL) Repays, Retires Convertible Notes in Strategic Moves to Impact Balance Sheet
Cannabis Global (OTC: CBGL), a cannabinoid and hemp-extract, science-forward company developing infusion and delivery technologies, has announced the retirement of convertible debt, along with additional moves designed to positively restructure the company’s debt obligations. The convertible notes — three in all — represented a total principle value of $178,500; the company also signed an agreement to finance the payoff of a fourth note. These strategic steps are designed to have a marked positive impact on CBGL’s balance sheet for the fiscal year ending Aug. 31, 2020. "The funds we raised from convertible notes earlier this year were used wisely to…