/NOT FOR DISTRIBUTION TO
The Note will mature three years following the closing date with an interest rate of 7% per annum and, at the election of the holder and subject to certain terms and conditions, will be convertible into up to 1,900,000 common shares of the Company (the "Conversion Shares") at a conversion price of
The Company intends to use the net proceeds from the Offering to pay down existing debt and for general corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
About Kadestone
Kadestone was established to pursue the investment in, development, acquisition, and management of residential and commercial income producing properties within major urban centres and high-growth, emerging markets in Canada. The Company operates five complimentary business lines spanning building materials procurement and supply, property development and construction, construction finance, asset ownership, and property management. These synergistic business lines have solidified Kadestone's vision to become a market leading vertically integrated property company. Additional information can be found at www.kadestone.com.
ON BEHALF OF THE BOARD
(signed) "Brent Billey"
President, CEO and Director
Neither
Cautionary Statement Regarding Forward-Looking Statements
Certain information in this press release, including, but not limited to, statements regarding the conversion of the Note, the intended use of net proceeds of the Offering and the Company's vision to become a leading vertically integrated property company, may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as "may," "will," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" (or the negatives) or other similar variations. Forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. Because of various risks and uncertainties, including those referenced below, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. As a result, you should not rely on such forward-looking statements. Additional information identifying assumptions, risks and uncertainties relating to Kadestone is contained in Kadestone's filings with the Canadian securities regulators available at www.sedar.com. These risks include those described in the "Risk Factors" section of the Company's final prospectus dated September 2, 2020 and in the Management's Discussion and Analysis for the years ended
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