Mr. Dallas Duce reports
3MV ENERGY ANNOUNCES THE ISSUANCE OF SHARES
3MV Energy Corp. has issued 248,421 shares of the company to Audax Investments Ltd. in relation to interest payable quarterly on the $2-million secured drawdown facility term loan. The debt facility bears interest at 8 per cent per year, calculated and payable quarterly at the greater of the volume-weighted average market price of the shares of 3MV on the five trading days preceding payment date or the discounted market price based on closing price at payment date.
In addition the company is pleased to announce that it has issued 175,685 shares of the company to Invico Diversified Income LP in relation to interest payable quarterly on the $6-million drawdown on its secured loan facility. The loan facility allows up to 3 per cent of interest payable by way of quarterly share issuance at the greater of the volume-weighted average market price of the shares of 3MV on the five trading days preceding payment date or the discounted market price based on closing price at payment date. Following this issuance, there will be 55,408,601 common shares of the company issued and outstanding. The issuance of the common shares will not result in a change of control.
© 2024 Canjex Publishing Ltd. All rights reserved.