tic toc ... Still 2 weeks before the Big Bang ! or another extension.
The Company is also pleased to announce that it has entered into a third amending agreement dated October 4, 2017 (the “Third Amending Agreement”) with its largest shareholder, Resource Capital Fund V L.P. (“RCF V”), an affiliate of RCF V Annex (together “RCF”), to extend the term of its existing US$15 million convertible debenture (the “Convertible Debenture”). The maturity date of the Convertible Debenture has been extended until June 30, 2018 (previously December 31, 2017) with all other terms and conditions remaining the same. Interest is paid in common shares, subject to TSX approval, quarterly in arrears with the interest rate remaining the same at 8% per annum. The Convertible Debenture may be converted into common shares of the Company at the option of RCF V at a price of $0.34 cents per share at any time prior to June 30, 2018.