The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced May 20, 2020, and June 25, 2020.
Convertible debenture: 4,100 convertible debenture units at $1,000 per unit
Conversion price: Each unit consists of 20,000 convertible debentures that are exercisable into common shares at five cents per share in the first year and at 10 cents per share in the second and third year plus 20,000 share purchase warrants.
Maturity date: three-year term
Warrants: The warrants are exercisable into common shares at 7.5 cents per share for a period of three years.
Interest rate: 7.5 per cent
Insider: Dr. Georg Pollert 3,175 units
Finder's fee: Teresa Schmidt -- $32,500 and 650,000 common shares
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