10:13 AM EDT, 03/17/2025 (MT Newswires) -- Goodfood Market ( GDDFF ) fell nearly 8% on Monday after the company said it intends to repay the outstanding principal amount of $6.232 million of its 5.75% convertible unsecured subordinated debentures due and payable as at March 31. 2025.

The company plans to repay the principal amount of its 2025 debentures by exercising its option to deliver common shares to the holders of the debentures.

"In order to maintain maximum flexibility, we have elected to repay the small remaining balance of these debentures in shares, rather than cash," said Goodfood Chief Executive Jonathan Ferrari. "In recent months, we have built a robust pipeline of potential acquisition opportunities that we believe will create significant long-term value for all our stakeholders and want to make sure we are well-positioned to take advantage of value-creating opportunities."

Goodfood also said that as of maturity date, an aggregate of about $179,170 in accrued and unpaid interest will be outstanding on the debentures and paid in cash. The company will confirm the number of common shares to be issued in connection with the repayment, five trading days prior to the maturity date.

Shares of the company were last seen down $0.0250 at $0.30 on the Toronto Stock Exchange.

Price: 0.30, Change: -0.03, Percent Change: -7.69