TRENCHANT CAPITAL CORP. ("TCC")
[formerly Trenchant Capital Corp. ("TCC.H")]
BULLETIN TYPE: Change of Business, Private Placement-Non-Brokered, Prospectus-Debenture Offering, Graduation from NEX to TSX Venture, Amendment
BULLETIN DATE: August 21, 2017
TSX Venture Tier 2 Company
Further to the TSX Venture Exchange's bulletin dated May 26, 2017, the Company has closed two further tranches of the Debentures, as described below:
Additional Convertible Debentures $2,218,000 (total is $7,740,000)
Conversion Price: Convertible into a maximum of 2,218,000 shares on or after May 18, 2018, at the option of the holder, at a conversion price of the greater of $1.00 and 95% of the volume weighted average trading price for the 30 day trading period ending three business days before the conversion date. The conversion is subject to certain limits.
Maturity date: March 31, 2022
Interest rate: 9% per annum
Additional Number of Placees: 83 Placees (total Placees are 254)
Agents: In connection with the two additional tranches, the Agents collectively received a further cash commission of $144,170.
Refer to the Company's news releases dated June 26, 2017 and July 19, 2017 for further information.
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