![]() ![]() The Company may elect, at its sole discretion and upon TSXV approval, to satisfy all or a portion of the accrued and unpaid interest in cash or by issuing Common Shares based on the then prevailing market price of the Common Shares at the time of issuance. ![]() The Notes will bear interest at the rate of 10% per annum, payable quarterly. If the principal amount is satisfied in Common Shares, the number of Common Shares to be granted to each holder of Notes on the Maturity Date will be equal to the total principal amount held by such holder divided by $0.65 (the " Conversion Price"). On the Maturity Date, payment of the principal amount of each Note may be satisfied through the conversion of the Note into common shares of Clip Money (the " Common Shares") or in cash, at the sole discretion of the Company and subject to the approval of the TSX Venture Exchange (the " TSXV"). Each Note Unit will consist of one 10% unsecured convertible note with a principal amount of $1,000 (each a " Note") and 769 common share purchase warrants of the Company (each, a " Warrant").Įach Note issued under the New Offering will be due and payable on the date that is 36 months from the date of issuance (the " Maturity Date"). The Offering Size may be increased at the discretion of the Company and upon TSXV approval. ![]() The modified private placement (the " New Offering") will be for note units of the Company (the " Note Units") at a price of $1,000 per Note Unit for gross proceeds of up to CAD$1,000,000 (the " Offering Size"). (TSX-V: CLIP) (OTCQB: CLPMF) (" Clip Money" or the "Company"), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce that it has modified the structure of its previously announced non-brokered private placement of units, as described in its press release on February 22, 2023. TORONTO, Ma(GLOBE NEWSWIRE) - Clip Money Inc. TORONTO, March 28, (GLOBE NEWSWIRE via COMTEX). The MarketWatch News Department was not involved in the creation of this content. ![]()
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