The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced April 27, 2018.
Convertible debenture: $332,500
Conversion price: if exercised in the first year, convertible into units consisting of 6.65 million common shares at a price of five cents and 4.75 million common share purchase warrants; if exercised in the second year, convertible into units consisting of 3,325,000 common shares at a price of 10 cents and 4.75 million common share purchase warrants
Maturity date: 24 months from the date of issuance
Warrants: Each warrant will have a term of two years from the date of issuance of the notes and entitle the holder to purchase one common share. The warrants are exercisable at a price of seven cents in the first year of exercise and at seven cents in the second year of exercise.
Interest rate: 10 per cent per annum
Number of placees: two placees
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