Stem Holdings, Inc. (OTCQX:STMH) (CSE:STEM) has completed the private placement of a $500,000 unsecured promissory note and 500,000 common share purchase warrants to an arm’s length lender.
The note becomes due and payable in three months, subject to extension by the company for an additional three months upon payment of a $5,000 extension fee to the lender. The note bears interest at rate of 10% per annum payable at maturity. The company may prepay the outstanding principal amount of the note together with all accrued and unpaid interest, without penalty, at any time prior to the maturity date of the note.
