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Message: TSX-V accepted for filing documentation for financing
Just want to point out that the exchange made an error in the interest rate calculation.
They state it as:
Interest rate: 20 per cent per annum
But in fact, it is 8% NOT 20%.
Deborah and her legal team are aware of the exchange's error (as that "PR" was issued by them, not the company) and have requested they correct it.
So, just to clarify, the interest rate stated in the exchange's PR is incorrect and a correction PR should folllow.
The correct interest rate for the loan is 8%.
TSX-V accepted for filing documentation for financing...
Bioasis $3-million convertible debenture financing
2021-07-05 16:12 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced June 29, 2021.
Convertible debenture: $3-million
Conversion price: convertible into common shares at 31 cents per for a term of 30 months
Maturity date: 30 months from date of issuance
Warrants: 4,839,048 share purchase warrants that are exercisable into common shares at 41 cents per share for a 30-month period
Interest rate: 20 per cent per annum
Number of placees: one placee
Insider: Lind Global Macro Fund LP, $3-million
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the company issued a news release dated June 29, 2021, announcing the closing of the private placement and setting out the expiry dates of the hold period(s).
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