Conversion: The Debentureholder may, at any time and from time to time up to the earlier of (a) the time that the Debentures are repaid in full, and (b) five (5) years from the date of issuance of the Debentures, elect to convert (the “Conversion”) some or all of the outstanding Debentures into common shares (the “Conversion Shares”) at a price of $0.85 per Conversion Share. For the avoidance of doubt, Conversion of any Debentures shall be cashless and not require further payment from the holder of the Debentures. Security: The Debentures shall be secured against the Company’s present and after acquired property located at the Company’s Facility in Birtle, Manitoba, Canada. The security does not include any real property at the Birtle Site. Finder’s fees may be payable in connection with the Offering.
Interest Rate: The Debentures shall bear a simple interest of one percent (1%) per annum, accruing monthly, and shall be paid in cash to the holder of the Debentures every three months thereafter until the Debentures are repaid in full or are converted in accordance with their terms. Term: four (4) years (the “Maturity”) from the date of issuance of the Debentures, subject to an option on the part of the purchaser to extend the Maturity to five (5) years from the date of issuance of the Debentures.
Story continues The Debentures have the following rights attached:
Bill ZhangPresident and CEO_____________________________________________________________________ Contact: 604-456-0608 email@example.com ON BEHALF OF THE BOARD OF DIRECTORS
Skychain Technologies is a Vancouver based company providing Blockchain Infrastructure services and power solutions. Our vision is to become a leading player in the crypto/data mining hosting by growing to 100Mw of crypto hosting capacity. To learn more, visit www.skychaintechnologiesinc.com. About Skychain Technologies Inc
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