07:25 AM EDT, 05/02/2025 (MT Newswires) -- Red White & Bloom Brands (RWB.CN) overnight Thursday said it completed a restructuring of about C$145 million in issued and outstanding debt, as part of a larger debt renewal program.

A statement noted the debt restructuring done through the entering into of various debenture and note amending agreements with a majority of its strategic lenders, with all applicable amended terms effective as of the respective renewal dates.

The company -- a multi-jurisdictional cannabis operator and house of premium brands operating in the United States, Canada and select international jurisdictions -- said the restructuring helped in eliminating the potential dilution of 198 million common shares, representing 42.1% of the issued and outstanding common shares, through the removal of debenture conversion rights.

The maturity dates for the restructured debt was extended, with C$33 million due on November 2026 with the balance of the restructured debt $112 million extended through to September 2027. All cash interest and principal payments for the restructured debt have been deferred until their new respective maturity dates.

The company said the restructuring of the debt also helped in achieving principal reductions of $5 million and annualized interest expense savings of $2.5 million associated with the restructured debt.

Additionally, the company reported that due to unforeseen delays in completing its fiscal year-end audit it has not been able to file its audited annual financial statements, for the fiscal year ended December 31, 2024, by the prescribed deadline of April 30. The company said it currently expects to file the annual filings on or before May 30.