Ceylon $2-million convertible debenture amendment

Nov 23, 2021

2021-11-23 16:21 ET – Private Placement

Further to a convertible debenture issued pursuant to a private placement originally accepted by the TSX Venture Exchange effective June 25, 2018, and amended Feb. 5, 2021, the exchange has consented to a further amendment of the convertible debenture and the underlying warrants:

Convertible debenture: $2-million (no change)

Conversion price: convertible into units consisting of eight million common shares and four million common share purchase warrants at 25 cents of the principal outstanding

Original maturity date: Nov. 23, 2021

Amended maturity date: Nov. 23, 2022

Original warrant terms: each whole warrant entitles the holder to purchase one common share at an exercise price of 25 cents each until Nov. 23, 2021

Amended warrant terms: each whole warrant entitles the holder to purchase one common share at an exercise price of 25 cents each until Nov. 23, 2022

The convertible debenture was previously extended from May 23, 2021, to Nov. 23, 2021, as accepted for filing by the exchange effective Feb. 5, 2021, and its underlying warrants were previously extended from May 23, 2021, to Nov. 23, 2021.

For further information, please refer to the company’s press release dated Nov. 9, 2021

https://www.ceylongraphite.com/