Dilution???During June 2022, the Company completed a non-brokered private placement of an unsecured bond in the principal amount of $1,851 (EUR 1,377). This unsecured bond will mature on June 7, 2025, and will bear interest at a rate of 7.5% per annum, payable semi-annually, in cash. In addition, in conjunction with this transaction, the Company issued share purchase warrants to the bond holder enabling the bond holder to acquire up to 1,795,608 common shares of the Company with an exercise price of EUR0.767, expiring June 7, 2025. These warrants were recorded as a financial liability with an initial value of $435 and were then re-valued at June 30, 2022 to $650.
- Not too impressed with this dilution. I hope this is the last time this will happen.
- From now on, I will be taking a closer look at cash flows.