![]() ![]() Securities Act) except in compliance with the registration requirements of the U.S. ![]() persons (as defined in Regulation S under the U.S. Securities Act or any state securities laws, and accordingly, may not be offered or sold within the United States or to, or for the account or benefit of U.S. The securities described herein have not been, and will not be, registered under the U.S. Therefore, the actual proceeds that the Company will receive under the terms of the Amended and Restated Subscription Agreement cannot be readily determined at this time. There is no guarantee that the Company will be able to meet all of the conditions precedent for a particular tranche. Under the Amendment and Restated Subscription Agreement, the Debentures issued upon the first tranche and second tranche of the Financing are convertible into common shares of the Company (" Common Shares") at a conversion price equal to eighty-five percent (85%) of the volume-weighted average price of the Common Shares on the Toronto Stock Exchange, rounded to two decimal places, for the five (5) trading days immediately preceding the conversion of the applicable Debentures into Common Shares, having regard for any adjustments made in accordance with the terms of the Debentures.Įach closing of a tranche of the Financing is subject to a number of conditions precedent. The Warrants issued as part of the second tranche have an expiry date of October 26, 2025. The Debentures issued as part of the second tranche do not bear interest and will mature on October 26, 2023. TETRA Bio-Pharma Logo (CNW Group/Tetra Bio-Pharma Inc.)Īs part of the closing of the second tranche of the Financing, the Company issued to the Investor $400,000 principal amount of debentures (" Debentures") and warrants to acquire 2,849,003 common shares at a price of $0.0351 per share (the " Warrants"). ![]()
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