The TSX Venture Exchange has accepted for filing the documentation with respect to a non-brokered private placement as announced on Feb. 19, 2019.
Convertible debentures: $2.34-million (U.S.)
Conversion price: The principal is convertible into a maximum of 30,789,474 common shares at a minimum conversion price of 10 cents.
Maturity date: 12 months following the closing of the private placement
Warrants: 12,048,055 warrants to purchase 12,048,055 common shares
Warrant exercise price: 11.5 cents per common share for 12 months
Interest rate: 12 per cent
Number of placees: two placees
The company has announced the completion of the private placement by way of a press release dated Feb. 28, 2019.
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