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Financings

Mimedia debentureholders approve amendments

By The Northwire Desk — AI Analysis Mar 13, 2026 · 19:51 MIM · 0.32 Mimedia Holdings Inc
MIM · Price

Executive Summary

  • Mimedia Holdings Inc. has obtained holder consent to amend the terms of its outstanding unsecured convertible debentures, extending the maturity date and increasing the interest rate.
  • As consideration for the amendments and for no additional cash, the company is issuing two tranches of subordinate voting share purchase warrants to each debenture holder.
  • The amended terms are designed to mirror the terms of debentures issued on June 27, 2025, pending final acceptance by the TSX Venture Exchange.

Key Details

  • Debenture Amendment Terms:
    • Maturity Extension: Extended from March 14, 2026, to June 27, 2027.
    • Interest Rate Increase: Increased from 10.0% per annum to 12.5% per annum.
    • Instrument: $1,000 principal amount unsecured convertible debentures issued on March 14, 2023, and July 20, 2023.
  • Warrant Issuance (Consideration):
    • Issuer: Mimedia Holdings Inc.
    • Recipients: Each holder of the outstanding debentures.
    • Warrant Tranche 1: 769 subordinate voting share purchase warrants per debenture.
      • Exercise Price: $0.65 per share.
      • Exercisability: On or after June 27, 2026, until June 27, 2027.
    • Warrant Tranche 2: 500 subordinate voting share purchase warrants per debenture.
      • Exercise Price: $1.00 per share.
      • Exercisability: On or after June 27, 2026, until June 27, 2027.
    • Consideration: Issued for no additional consideration.
  • Outstanding Debt Details:
    • Total Debentures Outstanding: 3,195 debentures.
    • Aggregate Principal Amount: $3,195,000.
    • Trustee: Odyssey Trust Company.
  • Regulatory Status:
    • Completion is subject to final acceptance by the TSX Venture Exchange.
    • Documents to be filed under the company's profile on SEDAR+.
  • Context:
    • The amended terms will mirror, in all material respects, the terms of the $1,000 principal amount unsecured convertible debentures issued on June 27, 2025.
    • All previously issued subordinate voting share purchase warrants related to the original debenture issuance expired on March 14, 2025.
Read the original news release →

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