CGX Energy Inc V.OYL

Question

[westcanpride]

I have a question that I do hope someone can help answer. 

If the recent $35MM USD loan gets extended by Frontera past July 31, 2022, do all the previous conditions (i.e., conversion rate into CGX shares at $3.10CAD) still remain and the only difference is the new interest rate is 15% (versus the current 9%)? Or does Frontera have the ability to redo the terms of the conversion rate?

I ask because the current share price would need to grow ~90% to reach the $3.10CAD loan rate. In the absence of a JV agreement with a major IOC/NOC, its entirely plausable the share price could stay below $2 leading into Wei-1. Just curious to see what other folks think. 

Thanks.

[jtdd]

Wouldn't the conversion rate have to remain $3.10 based on a signed loan agreement? I'm sure the $3.10 is inflated to attract JV but I see what you're saying. If it's still under $2.00 on August 1, why would they convert into shares at $3.10? It has kind of happened before when they had a rights price of $1.63 and it went down under a dollar. Not sure how it compares though. One