Two Hands Corporation provided additional details on May 29, 2025, regarding the convertible promissory note issued to 1800 Diagonal Lending LLC. The note is convertible at the holder's option 180 days after issuance.
The conversion price for common shares will be equal to the lowest trading price on the OTCQB, OTCQX, Pink Sheets, or other applicable trading market over the 10 trading days preceding conversion, less 25%. This variable pricing mechanism can lead to significant dilution.
Notwithstanding the variable pricing, the conversion price will not be lower than the closing price on the trading day prior to conversion, subject to a minimum of CAD $0.05. These terms present a substantial risk of future dilution for current shareholders.
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