The convertible debentures issuable under a Debenture Purchase Agreement can be converted, at the option of DPM, into common shares of Avala at any time up to 180 days after maturity of the debenture at a conversion price equal to the greater of (i)
The debentures may be issued in reliance upon a prospectus exemption. The debenture and the underlying securities, as applicable, will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities legislation.
Cautionary Statement Regarding Forward-Looking Information
This press release contains 'forward-looking information' within the meaning of Canadian securities legislation. Forward looking information in this press release includes information about the completion and timing of the closing of an additional tranche of convertible debenture. Readers should not place undue reliance on the forward-looking information contained in this news release. Neither Avala nor Dunav undertakes to update any forward-looking information, except as required by applicable securities laws.
Additional information about Avala and its projects is available on SEDAR (www.sedar.com) and on the website of Avala (www.avalaresources.com).
FOR FURTHER INFORMATION PLEASE CONTACT:
Avala Resources Ltd. James CrombiePresident and Chief Executive Officer +1.450.640.0810 firstname.lastname@example.org Source: Avala Resources Ltd.