Britannia Life Sciences Inc Com C.RLSC

Closing conditions

[lscfa]

How is co going to get debenture holders to convert? Most of the debentures are convertible at $0.15. Probably need to do $10 million PP and use $7.5 mil to redeem debentures.




"Conversion of all outstanding RISE convertible debentures"

"Successful completion by Rise of a minimum $5 million private placement financing"

[lscfa]

I think the co. is hoping to offer debenture holders a reduced conversion rate of $0.09 to entice them to convert. scientus 500 million Shs / 67% => 746 million total shares Rise shareholders 19% of 746 million = 142 million shs debentue holders = 142 mil - 60 mil common shares = 82 mil $7.5 mil debentures/ 82 mil shs = $0.09 conversion rate The final structure of the Transaction

[lscfa]

Make that $0.07 conversion rate for convertible notes. o/s notes of ~ $5.8 mil / 82 mil shares = $0.07        19.   Subsequent Events: On December 6th, 2019, the Company announced that it would be returning the escrowed proceeds of its April 1, 2019 financing $2,050,000 (note 10(iv)) as the Company did not complete a qualifying CBD related investment.

[lscfa]

Called it.... As a condition of the Transaction, all current debentures in RISE totaling C$5.365 million, upon closing of the Transaction, must be converted into common shares of RISE at a conversion price of C$0.075 per common share. https://www.newsfilecorp.com/release/54701/RISE-Life-Science-Corp.-Announces-Revised-Private-Placement-Structure-Led-by-Canaccord-Genuity-Corp.?k=

[lscfa]

  Rise shares  60,310,352   Rise wrts 51,360,740   Rise options 3,551,400         Scientus purchase