PASSPORT POTASH INC. ("PPI")
BULLETIN TYPE: Convertible Debenture/s, Amendment
BULLETIN DATE: March 13, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has consented to the amendment of the following convertible debenture/s:
Convertible Debenture US$5,790,540 plus interest due as of February 19, 2014
Original Conversion Price: Convertible into common shares at US$0.19 per share for a one year period.
Amended Conversion Price: Convertible into common shares at US$0.12 per post-consolidated share until maturity.
Original Maturity Date: February 19, 2014
Amended Maturity Date: August 19, 2016
Original Warrant Terms: Each warrant will have a term of one year from the date of issuance and entitle the holder to purchase one common share at a price of US$0.19 per share.
Amended Warrant Terms: Each warrant will have a term of 42 months from the date of issuance and entitle the holder to purchase one post-consolidated common share at a price of US$0.12 per share.
Original Interest Rate: 15% per annum
Amended Interest Rate: 9.5% per annum
The convertible debenture/s was issued pursuant to a private placement which was originally accepted for filing by the Exchange effective first tranche February 15, 2013, second tranche March 12, 2013 and third tranche March 27, 2013.
For further information, please refer to the Company's press release dated March 12, 2014.
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