Assume they will be converted the remaining notes at the same price 0.005 which equated to 114mil
(in total it is 2.6mil notes)
Now in total what it cost them for all these shares.
Conversion Cost = 2.6mil x 0.005 = 13K
Cost of lending = 5.9mil
Total Share in return for conversion notes @ 0.005 = 495mil
so they actually purchase them @ 5.9mil / 495mil = 0.012c
Actually the company doing very good deal here.
DYOR
Cann Global (ASX:CGB) to raise $3.75M to clear liabilities, page-30
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