My suggestion would be:To solve the problem with the debt of 20M I would sell new shares.
Some investors wrote in the last months that the debt is a problem.
So if I would be in management I would sell 250M new shares at 0,10 CAD.
For every 4 shares I would give the option to buy 1 additional new share within 24 months at 0,50 CAD if this share price is reached.
So the position to negotiate would be a lot better I think!
Only my 2 cents, IQ
P.S.
I would personally buy also new shares at this conditions!