UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 1-U
CURRENT REPORT PURSUANT TO REGULATION A
Date of Report (Date of earliest event reported): March 31, 2021
Emerald Health Pharmaceuticals Inc.
(Exact name of issuer as specified in its charter)
Delaware
State or other jurisdiction of incorporation or organization
82-0669961
(I.R.S. Employer Identification No.)
5910 Pacific Center Blvd., Suite 320, San Diego, CA 92121
(Full mailing address of principal executive offices)
(858) 352 - 0622
(Issuer’s telephone number, including area code)
Title of each class of securities issued pursuant to Regulation A: Common Stock
Item 9. Other Events
Related Party Transaction
On March 31, 2021, the Company received written notice of demand from Emerald Health Sciences Inc. (“EHS”), a stockholder of the Company, for payment of $1,819,771.15 of outstanding principal and $161,414.54 of accrued interest owed pursuant to the Loan Agreement between EHS, as lender, and the Company, as borrower, dated as of September 1, 2017, as amended on January 26, 2018 and November 15, 2019. The Company will make both the principal and interest payments, totaling $1,981,185.69, to EHS on or before April 8, 2021.
On April 6, 2021, the Company received written notice of demand from EHS for conversion of the remaining outstanding principal balance under the Loan Agreement of $500,000 at a conversion price of $2.00 per share into 250,000 shares of EHP common stock. Following the issuance of the shares of common stock to EHS, the Loan Agreement will be fully settled and there will be no further obligations to EHS under the Loan Agreement.
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SIGNATURES
Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
EMERALD HEALTH PHARMACEUTICALS INC., | ||
a Delaware corporation | ||
By: | /s/ James DeMesa | |
James DeMesa | ||
President and Chief Executive Officer |
Date: April 6, 2021
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