MLLLF - Engine Media to retire up to $11.6M of debt through shares for debt transactions

Engine Media ([[MLLLF]] +2.7%) reaches agreement with holders of $8M of its convertible debentures to retire their debentures in exchange for the issuance of common shares and warrants. The convertible debentures being settled are convertible into units at a conversion price ranging from $7.50-11.25 per unit, with each such unit consisting of a common share and one-half of a warrant.Each whole warrant exercisable into a common share at an exercise price of $15 per share for a period of three years from the issuance of the debentures.  The debentures have a base interest rate of 5% that increases to 10% under certain conditions.Company will be extending this offer to retire its convertible debentures on the same terms to other similarly situated holders of an additional $3.65M of its convertible debentures.

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Engine Media to retire up to $11.6M of debt through shares for debt transactions