Chemistree Technology Inc.

VANCOUVER, BC, Dec. 23, 2022  Chemistree Technology Inc. Pursuant to the Supplemental Indenture entered into with the Debenture Trustee, Odyssey Trust Company, effective January 17, 2022, the Company will pay the interest due on December 31, 2022 – via the issuance of common shares in lieu of payment in cash.

According to data provided by the Debenture Trustee, $7,571,000 in convertible debentures remain outstanding. The debentures bear interest at 10% per annum, paid semi-annually at the end of June and December. Common shares to be issued in satisfaction of the interest payment are calculated according to a market price formula set-out in the Supplemental Indenture and are subject to a minimum issue price of $0.05 per share.

The convertible debentures accrue interest daily, with such accrued interest paid immediately upon conversion of the debentures. The principal amount of the debentures is convertible into common shares of the Company at a price of $0.50 per share.

Investment Portfolio Update

The Company made two strategic investments in the current quarter. Chemistree invested $200,000 into an Ontario Limited Partnership (the “ONLP”) to take advantage of opportunistic long/short equity opportunities in both potential upside and downside expected price moves. The ONLP seeks to generate attractive risk-adjusted returns via an experienced investment process to purchase long positions in companies with durable competitive advantages. ONLP’s management team are seasoned investment professionals well known to Chemistree’s management.

In addition, Chemistree invested $100,000 in PlantFuel Life Inc (CSE: FUEL). The company is a scientifically focused, plant-based wellness company managed by successful entrepreneurs with extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. More information about FUEL is available at www.plantfuellife.com.

Further to Chemistree’s October 27, 2022, press release, the Company expects to close the sale of its Washington state subsidiary prior to the end of the calendar year. Expected proceeds of the transaction are US$500,000. In addition, the Company is pursuing a payment of US$200,000 due from the former operator of the Tier 3 recreational marijuana producer/processor license, which was the sub-lessee of the Washington state subsidiary.

About Chemistree Technology Inc.

Chemistree Technology Inc. is a Canadian investment company whose strategy is to focus on opportunistic investments across a broad range of industries, and is seeking to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services, mentoring and access to the Company’s management expertise. Existing holdings are in the U.S. cannabis sector, a consumer-targeted biotechnology venture a renewable energy developer in the wind and solar sector, a plant-based wellness company and a limited partnership focused on long/short equity opportunities in both potential upside and downside expected price moves.

(This information is primarily sourced from Chemistree Technology Inc.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).