CHICAGO, IL and VANCOUVER, BC / ACCESSWIRE / April 26, 2024 / The Planting Hope Company Inc. is pleased to announce that it is proposing the reorganization and settlement of convertible debentures held by arm's length parties to the Company with an aggregate principal amount of up to approximately C$7,102,460 outstanding in the capital of the Company to holders of such Debentures .
Each Unit shall consist of one subordinate voting share in the capital of the Company and one subordinate voting share purchase warrant . Each Warrant shall entitle the holder to acquire one additional subordinate voting share at an exercise price of C$0.15 for a period of 24 months from the date of issuance thereof.
The net proceeds raised from the Private Placement will be used to primarily support inventory purchases, business expansion, as well as general working capital purposes. The Company may pay finder's or other fees on the Private Placement in accordance with applicable laws and the policies of the TSX Venture Exchange .
In the event all Debentures are settled pursuant to the Settlement, all Non-Convertible Debt is satisfied through the issuance of Units and assuming the Settlement occurs on April 30, 2024, it is expected that an aggregate of up to approximately 73,517,601 Units will be issued pursuant to the Settlement, and a combination of up to an aggregate of up to approximately additional 36,758,800 additional Units will be purchased by Debentureholders pursuant to the Matching Requirement under the...
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