News & Events

Exchange Bulletin

ePals Corporation To Trade On TSX Venture Exchange

February 20, 2013

EPALS CORPORATION ("SLN") ("SLN.DB")
BULLETIN TYPE: New Listing-Debentures
BULLETIN DATE: February 20, 2013
TSX Venture Tier 1 Company

Effective at the opening, Thursday, February 21, 2013, the 6.5% convertible secured Debentures of ePals Corporation (the "Company") will commence trading on TSX Venture Exchange. The Company is classified as an 'Internet Publishing' company.

Corporate Jurisdiction:Ontario

Debentures:

Capitalization:$12,000,000Debentures with no par value of which $12,000,000 are issued and outstanding

Transfer Agent:Olympia Transfer Services Inc.
Trading Symbol:SLN.DB
CUSIP Number:268791AA8

These Debentures were issued pursuant to a Trust Indenture dated October 19, 2012.

Details of the Debentures:

Maturity Date:October 31, 2014 (or October 31, 2016 if the Debentures are extended at the option of the Company in accordance with the Trust Indenture)

Redemption:In the event the Maturity Date is extended to October 31, 2016, the Debentures may be redeemed on or after October 31, 2015, in whole or in part at the option of the Company.

Interest:The Debentures will bear interest at the rate of 6.5% per annum payable semi-annually, in cash on April 30 and October 31 with the first interest payment occurring on April 30, 2013.

Conversion:Each Debenture is convertible, at the Debenture holder's option, into voting common shares at any time prior to the close of business on the Business Day immediately preceding the Maturity Date at $0.60 per voting common share, being a ratio of approximately 1,667 voting common shares per $1,000 principal amount of the Debentures.

Day Count Type:365
Interest Start Date:October 19, 2012
First Coupon Date:April 30, 2013
Coupon Dates:April 30 and October 31

Clearing and Settlement:The Debentures will clear and settle through CDS.

Board Lot:The Debentures are in denominations of $1,000 and will trade in a board lot size of $1,000 face value.

For further information, please refer to TSX Venture Exchange bulletin dated November 30, 2012.