Mr. Shane Copeland reports
CLAROCITY CORPORATION ISSUES SHARES AS INTEREST PAYMENT ON CREDIT FACILITY
Clarocity Corp. will issue 1,540,542 common shares to debentureholders in lieu of cash as consideration for interest payments due Dec. 31, 2017, for the aggregate amount of $114,000.
Under the terms of the company's indentures dated May 8, 2017, and Jan. 25, 2016, debentureholders may elect to receive settlement of monthly interest payments in the equivalent of common shares of the company converted at the greater of the market price prescribed under the policies of the TSX Venture Exchange or the volume average trading price for the five trading days prior to the interest payment date. The conversion rate applicable to the Dec. 31, 2017, interest rate payment is 7.4 cents per common share. Following the issuance, the company will have 255,524,222 issued and outstanding shares.
The issuance of the common shares remains subject to approval by the TSX Venture Exchange.
About Clarocity Corp.
Clarocity provides real estate valuation solutions and platform technologies designed to address today's dynamic housing market. Its innovative platform is driving the next generation of valuation solutions, such as MarketValue Pro (MVP) and BPOMerge, and setting new standards in real estate valuation quality and reliability.
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