TORONTO–(BUSINESS WIRE)–Telehop Communications Inc. has completed its agreement with its
debenture holders to effect a partial conversion into common shares,
reduce the interest rate on the remaining balance and extend the final
maturity date. The particulars of the restructuring are as follows:
1. That effective on Dec. 31, 2016, the interest rate on the debentures
was reduced from 10 per cent per annum to 7.5 per cent per annum;
2. That the corporation be required to pay $150,000 of principal on the
Dec. 31, 2018, and a further $300,000 principal on the Dec. 31, 2019,
and the balance of the principal outstanding on the Dec. 31, 2020;
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