secwatch.observer — SEC 8-K summary
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Issuer:     ETHEMA HEALTH Corp (—)
CIK:        0000792935
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001903596-23-000607
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 3.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Ethema Health completes $8.5M sale-leaseback of 950 Evernia and restructures Leonite capital instruments
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- Closed purchase of 950 Evernia for $5.5M and sale to Pontus for $8.5M on Aug 4, 2023; net proceeds $2.82M.
- Entered 20-year net lease at $748K/yr (2.75% annual escalation); total obligation ~$19.6M.
- Exchanged $400K Series B preferred + $61K dividends for Cranberry Cove Holdings; recorded $2.496M gain.
- Replaced Leonite warrant: fixed 20% at 745.8M shares, exercise $0.001, expiry June 30, 2027.
- Repaid $1.449M to Leonite and $245K to other convertible noteholders, eliminating variable-rate conversions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792935/000190359623000607/0001903596-23-000607-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792935/000190359623000607/grst_8k.htm
  HTML page:      https://secwatch.observer/filing/0001903596-23-000607

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