What the! I just login to TD Webbroker for the first time in a week and left in awe over a share consolidation, new contract and new liability.
Who is the loan with and why not RBC again?
Did anyone else see a LOI or MOU for this new 5 year contract?
And was there any word on a vote for minority shareholders about the share consolidation?
Oh! And what about the convertible debentures and share arrangements from 2 weeks ago? Obviously they new all this material data and still issued themselves options to purchace shares at the current asking price of the time $0.06/share for up to 2 years and 10% on that.
Anyone else feel like they just took it dry from Miranda?
“We are very pleased to have completed this Debenture offering in such a short window of time. As the lead investor in the offering, I am confident that the funds raised will enable Eve to continue to flourish as we move to achieving the sales targets and international shipments expected in early 2021. This investment is reflective of the confidence our associates and I have in the Company, its prospects and growth potential,” said Melinda Rombouts, President and Chief Executive Officer of Eve & Co.
No finders’ fees were paid in association with this financing. All securities issued and issuable in connection with the financing are subject to a statutory hold period expiring on April 12, 2021.
Pursuant to the financing, the Chief Executive Officer of the Company acquired Debentures in the aggregate principal amount of $200,000. This issuance of the Debentures and accompanying Warrants to the Chief Executive Officer constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as at the time the transaction was agreed to, neither the fair market value of the subject matter of, or the fair market value of the consideration for, the transaction insofar as it involves interested parties, exceeded 25% of the Company’s market capitalization, pursuant to subsections 5.5(a) and 5.7(1)(a) of 61-101.
The Company also announces the grant of 3,000,000 options to purchase Common Shares (the “Options”) to a director. The Options are exercisable at a price of $0.055 per share, for a term of five years. The terms of the Options granted on December 11, 2020 are in accordance with the Company's stock option plan.