DTS8 Coffee Company, Ltd. (OTCQB:BKCT) (BERLIN:9BE) announced yesterday (May 31 2016) that it has retired both outstanding convertible notes dated October 20, 2016. The notes have been replaced with one non-convertible loan from an affiliate of the company.
CEO Douglas Thomas stated, “Terms of this new loan not only extend the repayment date for the funds loaned but remove the uncertainty of dilution associated with the number of common shares that would have been issued to discharge the convertible note.”
DTS8 Coffee Company, Ltd. is a Canadian-based purveyor of artisan roasted, gourmet coffee in China. Its “Premium,” “Single Origin Premium,” “Don Manuel,” and “Private Label” brands are available in Shanghai and other cities in China.
The coffees are well regarded for their uniqueness, consistency and special flavor characteristics, reaching consumers at many restaurants, multi-location coffee shops, online and offices.
