Pursuant to the credit agreement dated
Under the terms of the Credit Facility, at Arena's option, up to one half of the interest payable to Arena, being 6.0% per annum, may be paid in Common Shares at a price per Common Share equal to the greater of (i) 100.0% of the volume weighted average price of the Common Shares on the five (5) consecutive trading days immediately preceding the applicable date such interest is due and (ii) the market price pursuant to the policies of the TSXV. The remaining portion of the interest payable to Arena, up to a maximum of 12% per annum, is payable in cash. The issuance of the Common Shares to Arena is subject to TSXV acceptance.
We continue to increase our shareholding in
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This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
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