Rakovina Therapeutics Inc (TSX-V:RKV) announced that certain holders of its 12% unsecured convertible debentures have elected to receive common shares instead of cash for approximately $31,000 of the $91,000 interest payable on May 29, 2024. The remaining $60,000 will be settled in cash.
The number of common shares issued will be based on the higher of the five-day volume-weighted average trading price or the discounted market price on May 28, 2024. This issuance is subject to the terms of the indenture with Odyssey Trust Company and TSX Venture Exchange approval.