EDMONTON, AB, October 16, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) announced that it has entered into an amending agreement dated October 8, 2026 (the “Amending Agreement). The agreement revises the procedures for converting accrued and unpaid interest on the Company’s unsecured convertible debentures issued on June 24, 2026, and July 17, 2026. The debentures have an aggregate principal amount of $1,608,000 and bear interest at an annual rate of 10% (the “Debentures”). The amendments do not affect the conversion price applicable to the principal amount.
Under the Amending Agreement, holders may continue to convert the principal amount of their Debentures into common shares of the Company (“Common Shares”) at any time on or before the maturity date, at a conversion price of $0.16 per share.
Accrued and unpaid interest may also be converted into Common Shares at the holder’s option. The conversion price for interest (the “Interest Conversion Price”) will be based on the closing price of the Common Shares on the TSX Venture Exchange (“TSXV”) on the last trading day before the holder submits an interest conversion notice (the “Interest Conversion Notice”). However, the Interest Conversion Price cannot be lower than the market price, as defined under TSXV policies, on that trading day.
An Interest Conversion Notice must be submitted within the five trading days preceding the date the applicable interest becomes payable, including when the principal amount is converted. In the latter case, the interest conversion notice must accompany the principal conversion notice.
The issuance of Common Shares in payment of interest remains subject to prior acceptance by the TSXV. Any interest that is not converted into Common Shares, or for which TSXV acceptance is not obtained, will be paid in cash. The conversion notice form attached to the Debentures has also been updated to reflect the revised terms.
All other terms and conditions of the Debentures remain unchanged.
The Debentures permit amendments with the consent of holders representing a majority of the aggregate principal amount outstanding, with any approved amendment binding on all holders. Holders representing more than 50% of the aggregate principal amount of the outstanding Debentures have consented to the Amending Agreement.
Accordingly, the amendments are binding on all holders of the Debentures, regardless of whether they signed the Amending Agreement or received replacement certificates.
Click here to read more.
