Fife Capital Corp V.FFC

Primary Symbol: V.FFC.P

Fife Capital Corp. is a Canada-based capital pool company. The Company is focused on identifying and evaluation of assets or businesses for acquisition with a view to completing a qualifying transaction (QT). The Company has not generated any revenue.

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Fife Capital Corp > Convertible Debentures

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Comment by Toweringmarson Dec 18, 2020 1:28pm

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Post# 32140985

RE:Convertible Debentures

Math works out, but I'm not so sure I would worry about the debs. Companies like JnJ and Unifor wouldnt do deals with a company with liquidity issues.

sincitywizard wrote: I'm trying to figure out the amount of potential possible dilution to shareholders with regards to the Emblem convertible debentures issued in March 2019 that mature on February 2nd, 2021.

My understanding is that they were originally sold at $1000 per unit and convertible at $2.3875 per share.

Gross proceeds at the time was $25,000,000 CAN

Conversion ratio would then be $1000 divided by $2.3875 which equals 418.848168 shares per unit.

So, 25 million in proceeds, divided by $1000 equals 25,000 units

25,000 units multiplied by 418.848168 equals 10,471,204 shares.

Does this math add up to everyone? Am I understanding how these convertible debentures work correctly?

Please advise. Thanks!

The Wiz