RE: oyster oil and gas....28 May 2018 10:05
REMINDER..............of plmo investment for 500k due soon.....or convert 20% below IPO price....
Oyster has issued Polemos a convertible loan debentures for a principal amount of CAD867,500 (approximately �500,000) (the "Loan");
� The Loan will accrue interest at 10% per annum;
� The Loan is convertible at the lesser of CAD0.50 per Oyster common share (an "Oyster Share") or a 20% discount to the first offering price of Oyster's Shares on AIM, subject to compliance with the rules of the TSX-V;
� The Loan is repayable either one year from issue or five day's following the admission of Oyster's Shares to AIM; and
� 433,750 warrants, whereby each warrant entitles Polemos to subscribe for a new common share for a period of one year from issue at a price of CAD0.55 per Oyster Share.
Based on an enlarged issued share capital of Oyster of approximately 44.8 million shares, the Investment, if exercised immediately, would result in Polemos acquiring a 3.9% equity interest in Oyster.
The Investment is nearing completion but remains subject to certain closing conditions, including, but not limited to, the receipt of applicable regulatory approvals in Canada and the completion of required regulatory filings with the TSXV.
Oyster has also announced that it intends to list its Common Shares on the AIM Market of the London Stock Exchange and is in the process of engaging advisers in this regard.