RE:RE:RE:Debt Conversion $10 million goneIt's the CFO that forced the conversion: 10 M$ less debts & a solid shareholder!
« $10,000,000 of convertible unsecured subordinated debentures (“Debentures”) due December 31, 2023 (“Maturity Date”) with an interest rate of 8.00%, payable semi-annually on the last day of June and December of each year, commencing on June 30, 2019. The Debentures are convertible at the holder’s option into common shares of the Company at a conversion price of $1.84 per common share (“Conversion Price”). The Company may force conversion of all of the principal amount of the outstanding Debentures and accrued interest (to the date of the mandatory conversion) at the Conversion Price on not more than 60 days’ and not less than 40 days’ written notice should the volume-weighted average trading price of the common shares be greater than $3.00 for any 20 consecutive trading days. »