Investissement Qubec (IQ), with a subscription of $1,800,000 in an unsecured Convertible Debenture.
The Convertible Debenture has a 5-year (60 months) term, bearing interest at a rate of 5% per annum, and the interest payment can be accrued, at the Company’s option, up to the term of the Debenture. IQ will have the right, at anytime, to convert the Debenture into common shares of HPQ at a price of $0.12 per share. HPQ will be allowed to proceed with an early repayment of the Debenture, capital and accrued interest, 36 months after the issuance of the debenture, subject to the payment to IQ by HPQ of a redemption premium equal to a compounded annual return of 20% on the capital of the Debenture. Finally, HPQ will be issuing to IQ 15,000,000 Warrants, each Warrant entitling IQ to purchase one common share of the capital stock of HPQ at an exercise price of $ 0.17, for a period of 36 months from the close. IQ may also, at the date of the conversion of the capital into shares, convert the accrued interest payable in shares of HPQ, subject to the approval of the TSX-Venture and the conversion price for the payment of the accrued interest will be established in accordance with the policies of the TSX-Venture (TSX.V).
iq is really promoting start ups
i love iq
hey consider investors their private public piggy bank .
was this deal done in 2018 ?
HPQ Secures $ 5,250,000 in Financing; the PUREVAP™ Process is the Green Solution for the Solar Industry