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ViveRE Communities Inc. announces issuance of non-transferable warrants in granting loan bonuses
ViveRE Communities Inc. announces issuance of non-transferable warrants in granting loan b...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n\n\n\nViveRE Communities Inc. 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\n\n\n\n\n\n\nCanada NewsWire\nHALIFAX, Jan. 20, 2020\n\n\n\nHALIFAX, Jan. 20, 2020 /CNW/ - ViveRE Communities Inc. (TSXV: VCOM) (\"ViveRE\" or the \"Company\") announces that it has issued non-transferable warrants of the Company (each, a \"Warrant\") to arm's length parties ( 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 have been issued pursuant to Policy 5.1 of the TSX Venture Exchange (the \"Exchange\")\n\n \n \n\n \nViveRE has $150,000 of Promissory Notes outstanding which have a maximum maturity date of one (1) year (the \"Maturity Date\") and provide that, in consideration of the risk to the Lender in respect of the 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 Lender 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.\nThe trading price of the Common Shares on January 17, 2020 was $0.21. The Company has issued the maximum number of Warrants permitted under Policy 5.1 with respect to the aggregate amount of $150,000 outstanding under the Promissory Notes, resulting in 714,000 Warrants being issued, in aggregate, to the Lenders. Each Warrant is exercisable into one Common Share (each, a ...