LOOPShare Confirms Conversion of 100% of Convertible Debentures
Vancouver, British Columbia--(Newsfile Corp. - November 25, 2019) - LOOPShare Ltd. (TSXV: LOOP) (OTCQB: LPPPF), announces that 100% of its outstanding secured convertible debentures ("Debentures") have been converted into class "A" common shares (each a "Share") based on a conversion price of $0.50 per share. The Debentures were originally issued in a private placement that was completed in November 2018 (see Company press release dated November 27, 2018 for further details).
In connection with the conversion of the Debentures (including all prior conversions) the Company issued an aggregate of 6,961,020 Shares in satisfaction of the conversion price and all accrued interest. As a result of the conversion, the Company has no further convertible debt outstanding.
LOOPShare Ltd. is an emerging global leader in ridesharing, micro-mobility and sustainable transportation. To learn more, visit www.loopscooters.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50018