The TSX Venture Exchange has accepted for filing the company's proposal to issue 160,976 common shares at a deemed price of $3.80 (U.S.) per share in settlement of a debt relating to accrued interest under the unsecured convertible notes issued in connection with the private placement announced by news release dated Nov. 8, 2022, having a deemed value of $611,712 (U.S.).
Number of creditors: three creditors
Non-arm's-length party participation: 40,244 (one party)
Under the notes, the company has the right to deliver the share certificates to the creditors upon maturity, conversion or redemption, as the case may be, of the notes.
For more information, please refer to the company's news release dated Jan. 2, 2023.
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