RE:RE:RE:Anyone buying this is ignorant of the convertible note"The Company has issued to the Investor (i) a Convertible Security certificate for a principal amount of US$890,000; (ii) 3,122,743 Shares in satisfaction of a one-time fee (the “Fee Shares”); (iii) an initial issuance of 1,800,000 conversion shares (the “Initial Conversion Shares”) to be counted towards the conversion of the Convertible Security or otherwise applied as set forth in the Company’s May 28, 2021 news release; ..."
May 28, 2021, NR has been removed from the company Web site, though I see nothing out of the ordinary regarding converting debt to shares. Maybe you can explain, as I asked earlier, where you see something onerous.
"...and (iv) 2,800,000 warrants, as a one-time issuance, each warrant entitling the holder to subscribe for one Share at the exercise price of C$0.068509 for the 48 months from the date of issue. Please refer to the Company’s news release of May 28, 2021 for details on the means and pricing of conversion of the Convertible Securities. In addition, the Company announces that 3,420,000 previously issued common share purchase warrants exercisable at $0.075 per share expiring July 4, 2021, have had the exercise expiry date extended to July 4, 2024."
What's the downside of warrants? If they expire as worthless, they cost nothing. If they get exercised, the company has achieved much higher share prices and an infusion of new money without paying fees.
Thanks for your willingness to explain things.
VP in AZ