Examples of Bridge Financing Agreement in a sentence
In connection with the Bridge Financing Agreement, the lender received a bonus of 333,333 common shares of the Company valued at $46,667, non-transferable warrants valued at $105,387 allowing for the purchase of up to, in the aggregate, 1,666,666 additional common shares of the Company at $0.15 per share, which expired unexercised on April 26, 2018, and cash finders fees of $30,000.
Under the terms of the Bridge Financing Agreement, other than upon occurrence of an Event of Default (as defined in the Bridge Financing Agreement), Otic is not required to repay the Bridge Financing Amount or any portion in cash.
As such, conversion will occur upon closing of the Otic Transaction pursuant to the terms of the Bridge Financing Agreement.
The Bridge Financing Agreement also provides that the buyers under the Amended Renard Stream Agreement in proportion to their respective commitments, shall advance an amount equivalent to the Stream Net Proceeds payable under the Amended Renard Stream Agreement to the Corporation.
June 30,December 31, 20192018 Opening balance - -Additions12,681- 12,681- On June 10, 2019, the Corporation entered into the Bridge Financing Agreement (the “Bridge Financing Agreement”) with Diaquem and the buyers under the Amended Renard Stream Agreement (the “Bridge Lenders”).