UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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Item 8.01 Other Events.
On January 16, 2024, CLS Holdings USA, Inc. (the “Company”), made a public announcement in the form of a press release announcing the retirement of a total of $4,340,101 in principal and interest repayment obligations of the Company (the “Press Release”). The Press Release explains that this debt reduction was achieved through the repurchase of $3,875,094 in principal amount of 8% Debentures at a discount of 60% of principal with interest forgiven in the amount f $465,007. The retirement of these Debentures also resulted in the cancellation of 5,076,371 in warrant rights otherwise available under these Debentures. The Company financed the retirement of the debt through the issuance of a total of 64,132,145 restricted shares of the Company’s common stock at per share prices of $0.0333, and $0.0345. The Company posted the Press Release in the “News & Media” section of its website at www.clsholdingsinc.com.
The Company further disclosed its restructuring of its remaining debt obligations totaling approximately $7.2 million, by extending terms of repayment on all of the debt, and with respect to $3,639,343 of that total, extending the repayment of the debt to January 2028, with monthly payments made in the interim.
The Press Release is attached as Exhibit 99.1 to this Current Report.
Item 9.01 Financial Statements and Exhibits.
Exhibits
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99.1 |
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104 |
Cover Page Interactive Data File (formatted as Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CLS HOLDINGS USA, INC. |
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Date: January 18, 2024 |
By: |
/s/ Andrew Glashow |
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Andrew Glashow |
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Chief Executive Officer and Chairman of the Board of CLS Holdings USA, Inc. |
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