OTCQB:VVCIF - Post by User
Comment by
jayoneillon Nov 12, 2020 9:24am
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Post# 31884071
RE:RE:Jack you're tired.
RE:RE:Jack you're tired.one last and final time
TORONTO, Sept. 16, 2020 /CNW/ – VIVO Cannabis Inc. (TSX: VIVO) (“VIVO” or the “Company”) announces that the holders of its 6% unsecured convertible debentures dated February 28, 2018 (each, a “Debenture” and collectively, the “Debentures”), due on February 28, 2021, have approved certain amendments to the Debentures by way of extraordinary resolution of the holders. The amendments to the Debentures provide for, among other things, (i) the prepayment of 44.32% of the outstanding principal amount of the Debentures, being $10,468,384, on a pro rata basis, at a price of $1,000 per Debenture, together with accrued and unpaid interest thereon up to but excluding the repayment date, and (ii) the conversion of 27.84% of the outstanding principal amount of the Debentures, being $6,575,808, on a pro rata basis, in consideration for the issuance of units of the Company (each, a “Unit”) at a price of $0.2004 per Unit, leaving a principal amount of $6,575,808 outstanding. Each Unit to be issued will be comprised of one common share in the capital of the Company (each, a “Share”) and one half of one share purchase warrant, with each whole warrant entitling the holder to acquire one Share at an exercise price of $0.2672 until September 15, 2022 .