on Xebra Brands Ltd (CVE:XBRA)
Xebra Brands Ends Acquisition Intent, Faces Filing Delays and Secures Loan
Xebra Brands Ltd. has decided to terminate its non-binding Letter of Intent to acquire BSK Holdings Inc. This decision follows detailed evaluations and discussions. Despite not proceeding with the acquisition, Xebra maintains a healthy partnership with BSK to bring the ELEMENTS™ CBD product line to the U.S. market.
Xebra also faces a delay in filing its audited financial statements for February 28, 2025, due to management changes and liquidity challenges. Consequently, a management cease trade order was issued, impacting trading by company insiders.
Additionally, Xebra secured a C$110,000 loan from a co-founder to support working capital and ensure the completion of the audit. This loan is unsecured, with a 10% annual interest rate, and matures in one year.
R. E.
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