Are you all seriously blindNow that we know who bought that financing, lets revisit some of the terms.
"As part of the Loan, PyroGenesis also granted to the Lender share purchase warrants (“Warrants”) to subscribe for up to 625,000 Common Shares at a purchase price of $0.4098 per share (representing the Current Market Price on the effective date of the Loan). The Warrants expire eighteen months following the Effective Date. The Warrants will be subject to a hold period of four months and one day from the date hereof in accordance with applicable securities laws."
So the company granted these in-the-money warrants to the trust?
Is that actually what happened?
Did Pyrogenesis actually grant 625,000 in-the-money warrants to the trust?
....
okay then...
Forget that for a minute.
So, according to the terms of this deal, essentially, while the lender can call the note under loose provisions, as well Pyrogenesis can redeem it early.
Cool!
What an agreeable agreement.
It only took one person to agree with himself.
It's a perfect hedge.