The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on April 9, 2021, and April 26, 2021.
Convertible debenture: $2.5-million principal amount
Conversion price: convertible, only at the option of the company, into common shares at 40 cents per share until maturity
Maturity date: five years from issuance
Interest rate: 6 per cent per annum
Warrants: 6.25 million share purchase warrants to purchase 6.25 million shares
Warrant exercise price: 55 cents for two years from issuance
Number of placees: one placee
Insider: Peter Lacey, $2.5-million
Finder's fee: not applicable
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