Spartan Delta Corp T.SDE

Alternate Symbol(s): DALXF

Energy Advertising Agencies Oil & Gas E&P

Spartan Delta Corp. is a Canada-based energy company. The Company is engaged in exploration, development and production of crude oil and natural gas properties in western Canada. The Company is focused on acquiring a diversified portfolio of assets. It has a portfolio of production and development opportunities in the Deep Basin of Alberta. It is focused on the execution of the Company's organic drilling program, delivering operational synergies.

TSX:SDE - Post by User

Spartan Delta Corp > Inception Exploration and conversion at C$8.50 !!!

<< Previous

Bullboard Posts

Next >>

Comment by stockfyon Oct 10, 2021 5:55am

290 Views

Post# 33992930

RE:Inception Exploration and conversion at C$8.50 !!!

Obviously, they were not idiots to accept the conversion at C$8.50....they do know something....

stockfy wrote:

Great news today. The total debt goes down and the holders of this convertible debt are in at C$8.50!

CALGARY, AB, Sept. 29, 2021 /CNW/ - Spartan Delta Corp. ("Spartan" or the "Company") (TSX: SDE) announces that the $50.0 million unsecured non-interest-bearing convertible promissory note of the Company (the "Spartan Note") issued on March 18, 2021 in connection with the acquisition of Inception Exploration Ltd. was converted today into 5,882,353 common shares in the capital of the Company (the "Common Shares") at a conversion price of $8.50 per Common Share and the Spartan Note was cancelled.

Pursuant to an amending agreement entered into between Spartan and the holder of the Spartan Note, the parties agreed to the early conversion of the Spartan Note at a conversion price of $8.50 per Common Share.

Prior to the amendment, the Spartan Note was convertible on or after March 18, 2023 for such number of Common Shares calculated based on the greater of: (i) the volume weighted average trading price of the Common Shares for the 10 trading days immediately preceding the delivery by Spartan of a notice of conversion to the holder of the Spartan Note; and (ii) $7.67 per Common Share.