Regarding Tranche 3, here is the reason for it as per NR:

"Proceeds from the third tranche of Convertible Debentures are expected to be used to fund operations pending the completion of the Company’s previously announced sale of its subsidiary DenseLight Semiconductors Pte Ltd., expected in September 2019. The Company expects to continue to solicit interest from potential subscribers for additional tranches of Convertible Debentures over the coming weeks and months. Any subsequent tranches to be completed will be subject to the approval of the TSX Venture Exchange. For a complete description of the terms of the Convertible Debentures, refer to the Company’s press release of April 1, 2019."

Monolithic