NEX COMPANIES :
FANLOGIC INTERACTIVE INC. ("FLGC.H")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: July 7, 2020
NEX Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on May 6, 2020:
Convertible Debenture $200,000 principal amount of secured convertible debentures
Conversion Price: Convertible into units consisting of one common share and one common share purchase warrant on a post-consolidation basis and pursuant to the underlying terms of the note purchase agreement at $0.05 per unit of principal outstanding in year one thereafter at $0.10 in year two.
Maturity date: 2 years from the date of issuance
Warrants 4,960,000 share purchase warrants ("Warrants"). Each Warrant will have a term of two years from the date of issuance and entitle the holder to purchase one common share. The Warrants are exercisable at the greater of: (i) the price of the Company's share at the next private placement; (ii) the conversion or exercise price , as applicable, per the next convertible security offering; or (iii) $0.05.
Interest rate: 24% per annum, payable on maturity
Number of Placees: 10 placees
Insider / Pro Group Participation: None
Finder's Fee: None
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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