Why was this date changed? Is this a target date of some sort?
1st quarter financials:
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In March, 2010 the Company received a $2,500 convertible loan from a potential strategic investor. This convertible loan bears interest at 6% and is repayable on June 30, 2010 with an extension up to November 30, 2010 as determined by the lender. Subject to regulatory approval, the lender has the right exercisable for a period from May 31, 2010 to November 30, 2010 to cause the conversion of any amount of the unpaid balance of this loan into common shares of Crystallex at a price per common share equal to the greater of Cdn$0.20 and 95% of the 5 day volume-weighted-average trading price on the Toronto Stock Exchange of the common shares ending on the date of conversion.
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2nd quarter financials:
CRRC previously advanced Crystallex $2,500 during the negotiation of this Agreement. Subject to requisite regulatory and shareholder approvals, this advance is convertible at the option of CRRC into common shares of Crystallex at a price of Cdn$0.40 per share until September 10, 2010. This convertible loan bears interest at 6%, repayable on September 10, 2010 and ranks subordinate to the Notes described in Note 10. Upon the later of (i) receipt of all necessary permits to develop Las Cristinas, and (ii) the closing of the Agreement, Crystallex would have the right to cause conversion of this loan into common shares of Crystallex pursuant to the terms thereof on 30 days’ written notice to CRRC.
