Contradiction How the hell can FCF be at arm's length if the lenders are also Cielo shareholders and also connected with FCF?
"Cielo is pleased to announce that all of the Debentures have been converted following issuance at $1.02 per share. First Choice Financial ("FCF"), the arm's length third party with whom Cielo had entered into the binding letter of intent announced on March 3rd and who arranged for the aggregate loan, and the individual lenders, who are existing Cielo shareholders and connected with FCF, have decided to exercise the Debentures now, even though they are at a premium to the current market. All Debentures and the common shares that were issued upon the conversion thereof are subject to a statutory 4-month hold period expiring on August 30, 2021."