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7. Subsequent Events
6 Months Ended
Mar. 31, 2018
Notes  
7. Subsequent Events

7.    Subsequent Events

 

(a)   On April 3, 2018, the Company entered into a loan agreement with a non-related party for $85,800, net of an original issue discount of $7,800. The amounts owing are unsecured, bear interest at 12% per annum, are due on January 3, 2019, and are convertible into common shares at $0.15 per share until October 3, 2018 (180 days following the issuance date of the loan) when the conversion price is equal to 75% of the lowest closing bid price during the fifteen trading days prior to conversion. Upon the due date on January 15, 2019, if the loan remains unpaid, the interest will increase to 22% per annum.

 

(b)  On April 13, 2018, the Company entered into a loan agreement with a non-related party for $150,000, of which $75,000 is a front-end note and $75,000 is a back-end note. The amounts owing are unsecured, bear interest at 10% per annum, are due in 12 months, and are convertible into common shares at 66% of the lowest trading price for the twenty trading days prior to conversion.

 

(c)   On April 19, 2018, the Company issued 717,391 common shares with a fair value of $82,500 as part of a conversion of convertible notes payable at $0.115 per share.

 

(d)  On April 20, 2018, the Company entered into a loan agreement with a non-related party for $58,800, net of an original issue discount of $5,800. The amounts owing are unsecured, bear interest at 12% per annum, are due on January 30, 2019, and are convertible into common shares at $0.15 per share until October 20, 2018 (180 days following the issuance date of the loan) when the conversion price is equal to 75% of the lowest trading price during the fifteen trading days prior to conversion. Upon the due date on January 30, 2019, if the loan remains unpaid, the interest will increase to 22% per annum.

 

(e)   On May 8, 2018, the Company issued 1,052,174 common shares with a fair value of $121,000 as part of a conversion of convertible notes payable at $0.115 per share.