Business
NSX announces issuance of non-transferable warrants in granting loan bonuses
NSX announces issuance of non-transferable warrants in granting loan bonuses Canad...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n\n\n\nNSX announces issuance of non-transferable warrants in granting loan bonuses\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nBEDFORD, NS, May 30, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nBEDFORD, NS, May 30, 2018 /CNW/ - NSX Silver Inc. (the \"Company\" or \"NSX\") (TSX.V: NSY.H) announces the issuance of non-transferable warrants of the Company (each, a \"Warrant\") to 3024700 Nova Scotia Limited, Dr. Brian Ramjattan and Maven Capital Group and its affiliates (collectively, the \"Lenders\" and each, a \"Lender\"), as a loan bonus pursuant to promissory notes issued to the Lenders today (the \"Promissory Notes\" and each a \"Promissory Note\"). The Warrants were issued pursuant to Policy 5.1 of the TSX Venture Exchange (the \"Exchange\") and have been conditionally approved by the Exchange.\n\nThe Promissory Notes have a maximum maturity date of one (1) year (the \"Maturity Date\") and provide that, in consideration of the risk to the Lenders in respect of the respective loans extended thereunder, the Company may, at its sole option, any time prior to the Maturity Date, and subject to Exchange acceptance, grant a loan bonus to the Lenders of the maximum number of non-transferable Warrants permitted to be issued as a loan bonus to such Lender pursuant to Exchange Policy 5.1, being the principal sum outstanding under each Promissory Note divided by the Market Price (as such term is defined in Exchange Policy 1.1 – Interpretation) of the common shares of the Company (the \"Common Shares\" and each, a \"Common Share\"). The board of directors of the Company (the \"Board\") determined that it is in the best interests of the Company to exercise their option to issue the Warrants as a loan bonus to each Lender as set forth in their respective Promissory Note.\n\nThe trading price of the Common Shares on October 11, 2016, the last trading day before announcement of the Company's change of business transaction and the date the Commo...