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"Vancouver, B.C. March 29, 2018: International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE: ILC) announces, further to its news release of March 23, 2018, that it will conduct a non-brokered private placement (the “Private Placement”) of a secured convertible debenture (the “Debenture”) in the principal amount of up to CAN $1,180,000 with John Wisbey, Chairman, CEO and a significant shareholder of the Company. The Debenture will mature on June 19, 2019 and bear interest at a rate of 15% per annum, payable quarterly. The lender may convert at any time, all or a portion of the convertible loan principal into common shares of the Company at a price of CAN $0.085 per common share, being the closing trading price of ILC shares on March 28, 2018. Should Debenture conversion take place more than one year after closing, the conversion price will be CAN $0.10 per common share.
The Debenture will be secured by a general security agreement against the Company’s assets.
Mr. Wisbey currently owns or controls 2,261,000 common shares of the Company, representing 2.39% of the outstanding shares, and securities convertible or exercisable into 6,255,943 common shares. If all these securities were converted or exercised (and if no others of the same class were converted or exercised) this would represent 8.45% on a diluted basis. Should the CAN $1,180,000 Debenture and all other securities be converted, Mr. Wisbey would own 22,399,296 shares, representing 19.52% on a diluted basis, calculated on the basis of no other securities of the same class being converted. If the new convertible debenture were converted in full, Mr. Wisbey would become the largest shareholder of the Company."
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John Wisbey Is Pleased To Report: After Granting Himself Options And Convertible Debenture At 8.5 Cents He Can Become The Largest Shareholder Of International Lithium.
It will be very interesting what kind of questions ILC shareholders will be asking now: International Lithium Announces Convertible Debenture Private Placement https://internationallithium.com/international-lithium-announces-convertible-debenture-private-pl...
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Cyber Hacking: Wars In Virtual Space - Cyberspace has certainly transformed the world.
Cyber Hacking: Wars In Virtual Space
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Chinese Cyber Crime: China’s Hacking Underworld
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Chinese Cyber Crime: China’s Hacking Underworld.
Chinese Cyber Crime: China’s Hacking Underworld
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Security industry reacts to UK police cyber-crime budget revelations
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Security industry reacts to UK police cyber-crime budget revelations
SCMedia: Security industry reacts to UK police cyber-crime budget revelations As UK police forces are revealed to have spent just £1.3 million on cyber-crime training in the last three years, security industry response is damning. "As UK police forces are r...
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British data protection agency takes center stage in investigating Cambridge Analytica’s use of Facebook data
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British data protection agency takes center stage in investigating Cambridge Analytica’s use of Facebook data
Politico: British data protection agency takes center stage in investigating Cambridge Analytica’s use of Facebook data "LONDON — When Elizabeth Denham became the U.K.’s privacy regulator in 2016, data protection was hardly the hot-button topic it is today....
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