https://www.stockwatch.com/News/Item/Z-C!LUCA-3489937/C/LUCA
The TSX Venture Exchange has accepted for filing the company's proposal to issue 14 million units at 35 cents per unit to settle outstanding debt for $4.9-million. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional share at a price of 50 cents per share for a period of two years from the closing date.
Number of creditors: one creditor
Total non-arm's-length party involvement: $4.9-million, 14 million shares at 35 cents (one party)
Warrants: seven million share purchase warrants to purchase seven million shares
Warrant exercise price: 50 cents for a two-year period, subject to an acceleration clause
For more information, please refer to the company's news releases dated March 31, 2023, and June 5, 2023.