RE:Securitized by Mexico Assets Only?Smelvin You are right,, ""debentures are securitized by the "assets in Mexico."""
Mexican assets are probably gone, what's left,, all the good assets and no $17.9m Debentures,, and only 36m shares. I smell buyout ! Excellon Closes $17.9 Million Financing
Toronto, Ontario – August 4, 2020 –
"" The Debentures have a term of 36-months and are convertible into common shares (“Common Shares”) of the Company prior to maturity at a conversion price of $1.06 per Common Share. The Debentures bear interest at an annual rate of 5.75%, payable in cash semi-annually. Interest on the Debentures may alternatively be paid in Common Shares of the Company at the Company’s option based on (i) the 10-day volume-weighted average price of the Common Shares prior to the payment date and (ii) an effective annual rate of 10%. The Debentures are secured against the Company’s assets in Mexico.""
M2
PS
Lets see if this is a Las Vegas 5 to 10 bagger bet @0.12 cents ?