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Amendment to convertible debentures

Jul 16, 2019

Rupert Resources Ltd. (“Rupert” or the “Company”) is pleased to announce that it has filed an application to amend the terms of its 5.00% secured convertible debentures with an outstanding aggregate principal amount of CAD$7,705,000 (the “Convertible Debentures”) issued pursaunt to the Company’s private placement of the Convertible Debentures which closed on September 6, 2016. The Convertible Debentures are governed by a convertible debenture indenture dated September 6, 2016 (the “Convertible Debenture Indenture”) between the Company and Computershare Trust Company of Canada as the trustee (the “Convertible Debenture Trustee”).

The amendment will decrease the conversion price at which each Convertible Debenture will be convertible into common shares of the Company (“Common Shares”) from CAD$0.95 per Common Share to CAD$0.85 per Common Share. Each Convertible Debenture will continue to mature on September 6, 2019 and will be convertible at any time until maturity.

James Withall, CEO commented “The expected removal of the convertible debenture simplifies the Rupert capital structure and reflects strong support from the bondholders in Rupert’s exploration strategy and leaves them well positioned to benefit from any future exploration success at Pahtavaara.”

For full release including disclaimers please follow URL below:

190716 Amendment to Convertible Debenture