Diamond Estates to Convert $4.65 Million in Debt Principal Into Shares
Bitget2026/11/06 22:12- Diamond Estates will convert $4.65 million of 10.0% unsecured convertible debenture principal into common shares on November 9, 2026.
- The principal conversion price is $0.22 per share; the debentures mature on November 9, 2026.
- A proposed conversion of $1.47 million in accrued, unpaid interest at $0.13 per share requires TSX Venture Exchange approval.
- The conversions would increase Lassonde Group’s ownership to 66.62% from 50.85%, subject to approval of the interest conversion.
- Restrictive covenants in the company’s Bank of Montreal credit facility prevent cash repayment of the principal and accrued interest.
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