simply better brands corp pkanf sbbc has entered into a debt settlement arrangement with heavenly rx llc pursuant to which the company has agreed to issue an aggregate of 140351 common shares at a deemed price of 420 per share the total amount of indebtedness settled by this arrangements is 58947420 for principal and interest owed by the company to heavenly rx llc pursuant to a promissory note dated march 3 2021 the company decided to satisfy this outstanding indebtedness with shares in order to preserve its cash for operational purposes this arrangement is subject to the approval of the tsx venture exchange the company will issue these shares which are subject to a four month hold period once approval has been received from the exchange simply better brands to merge with jones soda heres what you need to know simply better brands preliminary fiscal q1 sales almost quintupled to 121m yoy simply better brands acquires the brn group and its seventh sense topical cbd brand