QualityStocksNewsBreaks – Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) Announces Receipt of Notices of Default from MXY Holdings LLC
Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) today announced its receipt of a notice of default from MXY Holdings LLC (“Moxie”) related to a US$5,000,000 note for which it provided a guaranty as a condition to Moxie extending the loan to GGB Beauty LLC on July 8, 2019. According to the update, the note had a January 31, 2020, maturity date and the parties were unable to reach agreement as to an extension. In conjunction, the company also received notice that its obligations with respect to the previously announced US$4,000,000 termination fee owed to Moxie would also be accelerated and…