By Robb M. StewartC21 Investments' shares jumped Friday after the Canadian cannabis company said it retired debt that eliminates $6 million in annual principal repayment obligations, and reported a fourth straight year of positive cash flows despite a drop in revenue. In morning trading, the shares were 16% higher at C$0.41 on the Canadian Securities Exchange, widening the year-to-date advance to 56%. The promissory note was originally issued in January 2019 with the acquisition of interests in two Nevada limited liability companies from Newman. The note, which carried an interest rate of 9.5%, was fully repaid with a $500,000 monthly principal repayment on Thursday. Write to Robb M. Stewart at robb.stewart@wsj.com(END) Dow Jones NewswiresJune 02, 2023 11:31 ET (15:31 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal June 02, 2023 15:39 UTC