Also Wooly in the newswire.ca NR you quoted from, it says,
I. Private Placements - Lapsing of Temporary Relief from Certain Pricing Requirements
By way of Bulletin/Notice to Issuers dated August 17, 2012, the Exchange implemented, on a temporary basis, relief from certain existing pricing requirements related to Private Placement financings. The three temporary measures (the "Relief Measures") are as follows:
- Allowing a share/unit offering with an offering price below $0.05 (the "Offering Price Relief Measure").
- Allowing a debenture offering with a debenture conversion price below $0.10 (the "Conversion Price Relief Measure").
- Allowing offerings involving a warrant with an exercise price below $0.10 (the "Exercise Price Relief Measure").
The Relief Measures are set to expire on August 31, 2013. The Exchange hereby notifies Issuers that the Relief Measures will not be extended and will therefore lapse on August 31, 2013.
But INTs NR from June 20th 2013 says that the common shares are .10 and the warrants are .12. That is .05 and .07 above the Relief Measures in that NR???
Doesn't this mean INT is exempt from the Relief Measures that are to expire August 31 2013 for the Notified Issuers???
INT NR JUNE 20 2013.
The Debenture will bear interest at a rate of 12% per annum, will be payable on a quarterly basis and will run for a term of three years. The Debenture will be convertible, in whole or in part, at the option of the holder, for common shares of Intertainment ("Common Shares") at a price of $0.10 per Common Share for a period of three years from the date of issuance of the Debenture, and may be redeemed by the Company at any time. Each Warrant will be exercisable into one Common Share for a three year period from the date of issuance at $0.12 per Common Share
June 24th NR
Mr. Hale is also a shareholder of Intertainment and as part of the sale of his interest in Ortsbo, took a portion as debt. Mr. Hale has agreed to convert up to $2.1 Million of debt, subject to regulatory approval, to restricted common shares at a minimum price of $0.10 per common share.
AUGUST 13th NR
Given the general climate of the Canadian markets, the Company has focused its current interest in the US with Yappn and Ortsbo; however, the Company continues to review its capital strategy programs. The Company has not completed the private placement announced on June 20, 2013 (placement of up to $3,500,000 worth of debenture units); however, the Company is extending the offering, subject to regulatory approval, as it increases its internal funding programs from revenues and sales of assets to further manage the business.
They NEVER said in this NR that the Common Share or Warrants would be Any different than the June 20th NR. Just that they havn't completed it yet and are extending the offering... Maybe CREDE, sound's like GREED, want's shares for .10 and warrants for .12 and D.L thinks someone else can do .20 for shares and .30 for warrants??? JMHO
