GREY:CLRYF - Post by User
Post by
Ruffneck1on Nov 09, 2018 12:41pm
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Post# 28951216
Is this More Official News??
Is this More Official News??Google Alert
> CLAROCITY CORPORATION ("CLY")
> BULLETIN TYPE: Amendment
> BULLETIN DATE: November 7, 2018
> TSX Venture Tier 2 Company
>
>Further to the TSX Venture Exchange Bulletin dated March 8, 2018, the Exchange has accepted an amendment with respect to the debt facility from Stableview Asset Management ("the Lender"). The Exchange has accepted the amendment of up to $3,500,000 in principal amount of debentures ("Debentures"). The Company will issue share purchase warrants ("Warrants") to the Lender concurrent with the advancements of funds, with each Warrant entitling the Lender to purchase one common share of the Company ("Share") at an exercise price equal to $0.10 per Share. The number of warrants will be 11,550,000 and shall expire November 14, 2018. The Debentures carry an interest rate of 24% per annum, calculated and payable quarterly in arrears in Shares at the discounted market price based on the five day volume weighted average price of the shares or in cash at the option of the Lender. The Debentures have a maturity date of 12 months from the initial advance date, which may be extended at the option of the Lender.