CLEAR BLUE TECHNOLOGIES INTERNATIONAL INC. ("CBLU")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s, Amendment
BULLETIN DATE: September 25, 2023
TSX Venture Tier 2 Company
Further to a convertible debenture issued pursuant to a private placement originally accepted by the TSX Venture Exchange (the "Exchange") effective February 3, 2022, the Exchange has consented to a replacement of the Original Convertible Debenture (the "Replacement Convertible Debenture"). The Company is not receiving any new additional funds.
Original Convertible Debenture
Conversion Price: Convertible into units consisting of one common share and one-half common share purchase warrant at $0.40 per share of the principal outstanding.
Replacement Convertible
Debenture Conversion Price: Convertible into units consisting of one common shares and one-half common share purchase warrant at $0.15 per share of the principal outstanding.
Original Convertible Debenture
Forced Conversion Right: Forced conversion of the debentures should the daily VWAP of the Company's shares be greater than $1.20 for any 10 consecutive trading days.
Replacement
Convertible Debenture Forced
Conversion Right: Forced conversion of the debentures should the daily VWAP of the Company's shares be greater than $0.90 for any 10 consecutive trading days.
Original Convertible Debenture
Maturity Date and Underlying
Warrant Expiry Date: October 27, 2025
Replacement Convertible
Debenture Maturity Date and
Underlying Warrant Expiry Date: October 27, 2026
Original Convertible Debenture
Warrant Exercise Price: Each whole warrant is exercisable at the price of $0.60
Replacement Convertible
Debenture Warrant Exercise
Price: Each whole warrant is exercisable at the price of $0.25
The amount of aggregate principal outstanding is $4,334,000, which is the full amount from the Original Convertible Debenture. All other details of the Replacement Convertible Debenture remain unchanged from the Original Convertible Debenture.
For further information, please refer to the Company's press release dated September 20, 2023
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