can or can not the debt holder excercise at free will for 0,25? The Debentures will be convertible at the holder's option into Common Shares at any time prior to the close of business on the Maturity Date at a conversion price per Common Share (the "Conversion Price") of $0.25, subject to customary adjustment events.
Other than in the context of a change of control, the Debentures will not be redeemable before April 30, 2015. On or after April 30, 2015 and prior to the Maturity Date, the Debentures will be redeemable in whole or in part from time to time at the option of the Company at a price equal to the principal amount thereof plus accrued and unpaid interest, provided that the volume weighted average trading price of the Common Shares on the Toronto Stock Exchange (the "TSX") for the 20 consecutive trading days ending on the fifth trading day preceding the day prior to the date upon which the notice of redemption is given is at least 150% of the Conversion Price.