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Phoenix Life Sciences International Announces Significant Retirement of Convertible Debt and Elimination of Outstanding Preferred Shares

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Phoenix Life Sciences International Limited (Phoenix Life) (OTC: PLSI), an international adaptive healthcare solutions company, today announced that it has retired additional convertible debt, positioning the company with no more outstanding preferred shares or debt that is subject to conversion. As a part of the implementation of its fiscal policy aimed at bringing shareholders value and forwarding the companys mission of creating a global platform for plant-based pharmaceuticals, including bringing medical cannabis products into the mainstream of healthcare, the company has retired its outstanding Series C debt and canceled its Series A and B. To operate under the umbrella company Phoenix Life Sciences International, we executed the consolidation of various entities and focused on eliminating as much expensive debt as possible, said Martin Tindall, Chief Executive Officer of Phoenix Life Sciences International. Many companies must deal with this issue in later stages of their growth. We are confident that addressing these types of fiscal issues ahead of reaching larger milestones in the ramp up of our product offering is crucial in building a solid fiscal structure for the open markets. We are proud that we were able to achieve this now and focus our attention on our many global healthcare initiatives. The company has recently announced multiple milestones in its progress including: Completion of merger including retiring all convertible notes Appointment of new Board of Directors and executive team Received approval to establish operations in the country and manufacture botanical pharmaceutical products Medical Advisory Council added Diabetes Director Currently, Phoenix Life is working with the government of the Republic of Vanuatu to target the treatment of diabetes with its cannabis-derived medications. The company plans to …

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Source: US SEC
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EX-992_of_8-K_for_Phoenix_Life_Sciences_International_Limited__8-K-11-23-2018