MiMedia to Pay Debenture Interest with Shares

MiMedia Holdings Inc (TSE:MIM) has released an update.

MiMedia Holdings Inc. has announced that the upcoming interest payment due on June 30, 2024, for its 10% unsecured convertible debentures, will be paid in the form of subordinate voting shares, subject to TSX Venture Exchange approval. The exact number of shares to be distributed to each debenture holder will be calculated based on the market price on the day of payment, with a total interest payment valued at approximately $310,000. This move offers debenture holders an alternative form of compensation and aligns with the company’s innovative approach to personal media cloud services.

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