The Hydropothecary Corporation (TSXV:$THCX) has decided to convert its 25.1 million Debentures into common shares of the Company.
Hydropothecary is able to do this because the volume weighted average price of the Company’s common shares on the TSX Venture Exchange have been equal to/exceeded $2.25 for 15 consecutive trading days. In this time period, the volume weighted average price for the shares was $2.56.
Holders of the Debentures have been provided 30 days advance written notice of this. The Conversion will commence December 27, 2017.
In the meantime, holders of the Debentures will receive 625 common shares for each $1,000 principal amount of Debentures held. Any accrued or unpaid interest on the Debentures, from July 18, 2017, to the conversion date (excluding the conversion date itself) will equal $36.00. For those holders with accrued or unpaid interest, an additional 22 common shares will be added to this amount.
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