RE:Possible form 7 after close today The Jan and Feb reports noted some factoring debt converted to 3.75M common shares. Was it at $0.225/sh per the Dec NR? And why not showing issue of warrants associated with that share conversion?
Dec 2023 - NuRAN is pleased to announce that it has amended the terms of the factoring agreement dated August 28, 2023 (the "Amendment"). Pursuant to the Amendment, the Company has sold Receivables (as defined in the Company's news release dated August 28, 2023) valued at $1.425 million for proceeds of $865,000 consisting of: (i) a cash payment of $215,000 that have been received by the Company; and (ii) a cash payment $650,000 on or before December 31, 2023 for the purpose of funding working capital requirements leading up to the finalisation of other loans. Included in the Amendment, the factoring company agreed to extend various deadlines until January 31, 2024. Furthermore, pursuant to the Amendment, if the Company chooses to satisfy the Recourse Account (as defined in the Company's news release dated August 28, 2023) by issuing Units (as defined in the Company's news release dated August 28, 2023), which is entirely at the discretion of the Company, the deemed price per Unit will be $0.225 per Unit and the warrant exercise price will be $0.25. Finally, the Amendment adjusted the timing and quantum of the Fee Shares (as defined in the Company's news release dated August 28, 2023) so that the remaining balance of 1,300,000 Fee Shares has increased to 1,900,000, 1,000,000 of which will be issued on or before January 31, 2024, and the remainder will be issued on or before March 15, 2024. The Fee Shares will be subject to a statutory hold period in Canada of four months and a day from issua