The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced on March 30, 2020.
Convertible debenture: $471,000 (U.S.) principal amount ($392,500 (U.S.), of which is convertible to common shares)
Conversion price: convertible into common shares at eight U.S. cents per share until maturity
Maturity date: 48 months from issuance
Interest rate: 10 per cent per annum
Warrants: 4,906,250 share purchase warrants to purchase 4,906,250 shares
Warrant exercise price: 15 U.S. cents per share for a period of 48 months
Number of placees: one placee
Finder's fee: an aggregate of $31,400 (U.S.) and 392,500 broker warrants, payable to Cantone Research Inc. (Each broker warrant entitles the holder to acquire one common share at eight U.S. cents for a period of 48 months.)
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