TORONTO–(BUSINESS WIRE)–Telehop Communications Inc. (TSX-V:HOP) announced it has agreed with its
debenture holders to effect a partial conversion into common shares and
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 December 31st, 2016, the interest rate on
the debentures shall be reduced from 10% per annum to 7.5% per annum;
2. That the Corporation be required to pay $150,000 of principal on the
31st of December, 2018, and a further $300,000 principal on
the 31st of December 2019, and the balance of the principal
outstanding on …
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