CannapharmaRx Pays Off Convertible Notes

CannapharmaRx, Inc. (OTC PINK: CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced today that it has extinguished convertible notes on the company. This transaction will avoid potential dilution of the company’s stock and protect shareholder interests.

The notes, with 1800 Diagonal Lending, LLC and Janbella Group, LLC, were paid with cash generated primarily from debt financing from a different lender. The repayment of the notes strengthens the company and provides CannapharmaRx with increased flexibility moving forward to execute its strategy.

“CannapharmaRx is at an exciting operational inflection point. Months of hard work on business development has resulted in multiple multi-year agreements that will lead to strong growth for years to come. Removal of this toxic overhang was a high priority for the company, and we are looking forward to a valuation based on our strong fundamentals moving forward,” commented Dean Medwid, CEO of CannapharmaRx.

Safe Harbor Statement

Cautionary Note Regarding Forward-Looking Information or Statements

This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are ‘forward-looking information or statements.’ Forward-looking information or statements can be identified by the use of words such as ‘plans,’ ‘expects,’ or ‘does not expect,’ ‘is expected,’ ‘estimates,’ ‘intends,’ ‘anticipates,’ or ‘does not anticipate,’ or ‘believes,’ or variations of such words and phrases or statements that certain actions, events or results ‘may,’ ‘could,’ ‘would,’ ‘might’ or ‘will’ be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of CannapharmaRx has made numerous assumptions, including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, events, or developments to be materially different from any future results, events, or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information, or for any other reason except as required by law.

View the original press release on accesswire.com