… pleased to provide the following business update regarding G6’s ongoing sale of air purification products, its recently announced debt facility as well as the board’s grant of stock options.
… announce that it recently entered into a loan agreement (the “Loan”) with an arm’s length third-party company (the “Lender”). Under the terms of the Loan, the Lender will provide G6 with an aggregate principal amount of up to US$1.0 million dollars on an unsecured basis for a one-year term. Further, the principal advanced under the facility will accrue interest at a rate of 5.0% per annum, among other costs, with the Loan’s proceeds being used by the Company for general working capital purposes.
… has closed a non-brokered private placement and issued 14,300,001 units at a price of $0.07 per unit to raise aggregate proceeds of $1,001,000.07. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.12 per share. If the common shares trade on the TSX Venture Exchange at a volume weighted-average price of $0.16, or more, per common share for any period of at least ten consecutive trading days after September 06, 2020 [4 months and one day from close], the Company shall be entitled to accelerate the expiry time of the warrants to a date that is at least thirty days from the date that notice of such acceleration is given via news release by the Company, with the new expiry time specified in such news release.