Ceylon Graphite replacement convertible debenture

Nov 2, 2022

2022-11-02 16:10 ET – Private Placement – Debenture

Further to a convertible debenture issued pursuant to a private placement originally accepted by the TSX Venture Exchange effective June 25, 2018, and further amended Feb. 5, 2021, and Nov. 23, 2021, (the original convertible debenture), the exchange has consented to a replacement of the original convertible debenture (the replacement convertible debenture).

Original convertible debenture: $2-million

Replacement convertible debenture: $1.85-million

Original convertible debenture

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

Replacement convertible

Debenture conversion price: convertible into units consisting of 7.4 million common shares and 3.7 million common share purchase warrants at 25 cents of the principal outstanding

Original convertible debenture

Maturity date: May 23, 2021

Replacement convertible

Debenture maturity date: Nov. 23, 2023

Original convertible debenture

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

Replacement convertible

Debenture warrant terms: each whole warrant entitles the holder to purchase one common share at an exercise price of 25 cents each until Nov. 23, 2023

Original convertible debenture

Interest rate: 6 per cent per annum

Replacement convertible

Debenture interest rate: 8 per cent per annum (changed effective Feb. 5, 2021, bulletin)

The maturity date of the original convertible debenture was extended from May 23, 2021, to Nov. 23, 2021, as accepted for filing by the exchange effective Feb. 5, 2021, and further extended to Nov. 23, 2022, as accepted for filing by the exchange effective Nov. 23, 2021.

For further information, please refer to the company’s press release dated May 13, 2022.

https://www.ceylongraphite.com/