Sign Up

Elcora Proposes to Extend Convertible Promissory Note Maturity Date

HALIFAX, Nova Scotia, Oct. 21, 2024 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB, ECORF), (the "Company" or "Elcora"), announces that, subject to TSX Venture Exchange acceptance, the Company plans to amend the terms of an 8% interest bearing, unsecured, convertible promissory note (the "Convertible Note") in the principal amount of CDN$102,750 that was issued upon the closing of a financing announced on May 16, 2024.

The Company proposes to change the maturity date of the Convertible Note from September 27, 2024 to March 27, 2025. All other terms and conditions of the Convertible Promissory Note remain unchanged.

The principal amount of the Convertible Note may be converted in whole or in part into fully paid and non-assessable common shares (the "Common Shares") in the capital of the Company at a conversion price of CDN$0.05 per Common Share, resulting in the issuance of up to 2,055,000 Common Shares upon the conversion of the convertible promissory note in accordance with ...