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01 Communique Announces Proposed Amendment to Debentures and Warrants
01 Communique Announces Proposed Amendment to Debentures and Warrants Canada NewsW...
About this update from 01 Quantum Inc.
[{"type":"text","content":"\n\n\n\n01 Communique Announces Proposed Amendment to Debentures and Warrants\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 27, 2019\n\n\n\nTORONTO, March 27, 2019 /CNW/ - 01 Communique Laboratory Inc. (TSX-V:ONE) today announced that it has entered into an agreement to amend the terms of its previously issued $400,000 principal amount of debentures (the \"Debentures\") and 800,000 common share purchase warrants that were issued on April 24, 2015. \nEach Debenture currently bears interest at a rate of 15% per annum, calculated and payable quarterly. The Debentures had an original term of 36 months expiring on April 24, 2018 (which was previously extended to April 24, 2019) and are redeemable at any time prior to maturity at the discretion of 01 Communique with payment of an additional three months interest. The Debentures are secured by a general security agreement. Each warrant is exercisable into one common share in the capital of 01 Communique at any time until April 24, 2018 at an exercise price of $0.10 per Common Share. Under the terms of the proposed amendments the maturity date of the Debentures and the expiry date of the warrants would be extended until April 24, 2020.  In addition the warrants will continue to include an expiry date acceleration clause such that the exercise period of the warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the warrant (the \"Premium Trading Days\"), the closing price of the common shares of 01 Communique exceeds the exercise price of the warrants by 25% or more and the reduced exercise period of 30 days will begin no more than 7 calendar days after the tenth Premium Trading Day).\nThe amendments remain subject to the approval of the TSX Venture Exchange.\nNeither TSX Venture Exchange (\"TSX-V\") nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\nAbout 01 Communique.Established in 1992, 01 Communique Laboratory ...