BULLETIN V2024-0959
TURNIUM TECHNOLOGY GROUP INC. ("TTGI")
BULLETIN TYPE: Shares for Bonuses
BULLETIN DATE: April 2, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange ("Exchange") has accepted for filing the Loan Agreements (each an "Agreement"; together the "Agreements") between the Company and four lenders (each a "Lender"; together the "Lenders"), of which three of the Lenders are arm's length from the Company, and one Lender is a Non-Arm's Length party to the Company. Pursuant to the Agreements, the Lenders will lend to the Company an aggregate amount of $300,000 bearing an interest rate of 14% per annum and will mature 6 months from the date the loans are issuance ("Maturity Date"). If the Company repays the loan prior to the Maturity Date, it will pay to the Lenders a minimum of 6 month's interest.
As an incentive for the loan, the Company has paid to the Lenders an aggregate of 3,000,000 bonus share purchase warrants (the "Bonus Warrants"). Each Bonus Warrant will entitle the holder to purchase one common share of the Company ("Share") at an exercise price of $0.10 per Share until the date that is 12 months following the date that the Company issues the Bonus Warrants to the Lenders. The Bonus Warrants will be subject to an acceleration provision that allows the Company to accelerate the expiry of the Bonus Warrants should the Shares trade on the Exchange at or above $0.20 for any 10 consecutive trading days.
For further information, please refer to the Company's press releases dated March 6, 2024, and March 28, 2024.
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