$450,000 of convertible debt being eliminated
AUSTIN, TX / ACCESSWIRE / August 15, 2024 / SFWJ, doing business as Medcana, a holding company focused in the cannabis and agricultural technology sectors, is pleased to announce all Convertible Debt on the Company's Balance sheet will be eliminated and reported in the 3rd Quarter Financial Report.
As the Company prepares to enter its next growth phase, the debtholders worked out a deal to swap the debt for Preferred shares with the same rights and interest rate to boost investor confidence. After being issued the preferred shares, the debtholders agreed to a 6-month lock-up agreement.
Gabriel Diaz, CEO of MedCana, reaffirmed the company's commitment to its shareholders, stating, "Our goal is to build a strong company focusing on revenue and, most importantly, enhanced shareholder value. We want our shareholders to invest with confidence, knowing they will not have to worry about any debt conversion hindering the value of their shares."
About SFWJ/MedCana
Software Effective Solutions/MedCana is a holding company focused on developing companies in the agricultural technology and the cannabis industries. As MedCana moves forward with its expansion plans, the Company remains committed to delivering on its promise of building a solid foundation for future growth of its holdings.
For more information, please visit: www.MedCana.net
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SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Contact:
Jose Gabriel Diaz, CEO
www.medcana.net
[email protected]
SOURCE: Software Effective Solutions