Summary:
Cathedra Bitcoin Inc., a diversified bitcoin mining company, has settled a portion of its outstanding debt by issuing common shares to certain debenture holders. The settlement amount of CAD 10,743,329 was converted into 96,439,227 common shares of the company. Additionally, Cathedra Bitcoin has repaid CAD 2,000,000 to retire a portion of the outstanding debt, leaving a remaining principal of CAD 5,733,728. The maturity date for the remaining principal has been extended by 12 months to November 11, 2025. The company will continue to pay quarterly interest on the remaining principal until the extended maturity date.
Introduction:
Cathedra Bitcoin Inc. has announced the settlement of a portion of its outstanding debt by issuing common shares to debenture holders. The settlement amount of CAD 10,743,329 was converted into 96,439,227 common shares. The company has also repaid CAD 2,000,000 to retire a portion of the debt, leaving a remaining principal of CAD 5,733,728. The maturity date for the remaining principal has been extended by 12 months to November 11, 2025.
Main Points:
– Cathedra Bitcoin Inc. has settled a portion of its outstanding debt by issuing common shares to debenture holders. The settlement amount of CAD 10,743,329 was converted into 96,439,227 common shares.
– The company has also repaid CAD 2,000,000 to retire a portion of the outstanding debt, leaving a remaining principal of CAD 5,733,728.
– The maturity date for the remaining principal has been extended by 12 months to November 11, 2025.
– The company will continue to pay quarterly interest at 3.5% per annum on the remaining principal balance until the extended maturity date.
Conclusion:
Cathedra Bitcoin Inc. has settled a portion of its outstanding debt by issuing common shares to debenture holders. The settlement amount of CAD 10,743,329 was converted into common shares, and an additional CAD 2,000,000 was repaid to retire a portion of the debt. The remaining principal of CAD 5,733,728 will now mature on November 11, 2025. The company will continue to pay quarterly interest on the remaining principal until the extended maturity date.