Plurilock Security Inc. (TSX-V:PLUR) said it received approval to amend certain terms of the unsecured convertible debentures issued by the company on August 15, 2022, and September 20, 2022, in connection with the private placement of debenture units consisting of $1,000 principal amount of 10% debentures and 500 common share purchase warrants.
The cybersecurity solutions provider said the conversion price of the debentures will be amended from $2 to $0.25.
It also said it issued 1,092,762 units at $0.20 per debt settlement unit to settle an aggregate of $218,552.50 owed to creditors.