V.clas
Claritas Pharmaceuticals debenture private placement
2021-06-18 16:35 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on April 29, 2021.
Convertible debenture: $183,750 in outstanding principal amount of convertible debentures, issued at a 20-per-cent discount to the original purchase price
Conversion price: convertible into common shares of the company at a conversion price of five cents of principal amount outstanding per common share until the maturity date (as defined below)
Maturity date: June 10, 2022
Warrants 3,675,000 common share purchase-warrants to purchase 3,675,000 common shares
Warrant exercise price: five cents until the maturity date
Interest rate: 10 per cent per annum, calculated and payable in cash on the maturity date
Number of placees: five placees
Insiders/pro groups: none
Finder's fee: none
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the company issued a news release dated June 11, 2021, announcing the closing of the private placement and setting out the expiry dates of the hold period(s). Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.