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The Principal Amount of the Debentures, together with any accrued and unpaid interest, will mature and become due and payable in cash on the date that is 24 months from the date of issue of the Convertible Debenture Units , subject to earlier conversion or redemption . The Principal Amount owing under the Debentures will accrue interest from the date of issuance at 12.
The Company anticipates using the net proceeds of the Private Placement for the continued advancement of its renewable fuel projects, namely the wood byproduct to Bio-SynDiesel® Project in Carseland, Alberta , which is currently undergoing front-end engineering and design, and the Company’s railway tie to Bio-Syndiesel® project in Dunmore, Alberta , as well as general working capital and corporate growth purposes.
None of the securities offered in the Private Placement have been or will be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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