The TSX Venture Exchange has accepted for filing the company's proposal to issue a non-convertible secured debenture for gross proceeds of $1.25-million and issue 1.8 million share purchase warrants of the company. Each warrant entitles the holder thereof to purchase one common share of the company for 10 cents per share, expiring on Dec. 31, 2020. The debenture is being issued to replace an outstanding $1.25-million debenture with a maturity date of Dec. 31, 2019, shall bear interest of 12 per cent per annum and shall mature on Dec. 31, 2020.
For further information, please refer to the company's news release dated June 28, 2019.
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