The TSX Venture Exchange has accepted for filing the company's proposal to issue 65,716,666 shares and 65,716,666 share purchase warrants to settle outstanding debt for $985,750, in reliance upon the temporary relief measures set out in the notices to issuers dated April 8, 2020, Sept. 16, 2020, and Dec. 17, 2020.
Number of creditors: one creditor
Insider/pro group participation: AIP Convertible Private Debt Fund LP, $985,750, 65,716,666 shares at 1.5 cents
Warrants: 65,716,666 share purchase warrants to purchase 65,716,666 shares
Warrant exercise price: five cents for a five-year period
The company shall issue a news release when the shares are issued and the debt extinguished.
© 2021 Canjex Publishing Ltd. All rights reserved.