Such terms include the requirement to pay accrued interest on and during the term of the Debentures to their holders within 30 days of each fiscal quarter by way of issuance of common shares at a conversion price equal to the Market Price (as defined in the polices of the TSX Venture Exchange [the “TSX-V”]) at the time of conversion, subject to TSX-V approval. The Shares were issued at $0.12 per Share and are subject to a statutory four-month hold period expiring on March 30, 2020. The TSX-V has conditionally approved the transaction.
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