Primeline Energy Holdings Inc announced a private placement of convertible bonds for gross proceeds of $11,300,000 on August 14, 2018. The transaction included participation from Primeline International Holdings Inc. The bond carries a fixed coupon of 7% per annum, of which 4.5% will be paid in cash and 2.5% in common shares of the company issued at a deemed price per share equal to the volume-weighted average trading price of the common shares on the TSX Venture Exchange for Exchange for the 10 days preceding the interest payment date. The bonds must be redeemed for the principal amount along with interest equal to 10% per annum, less cash interest paid and the product of the number of Shares actually issued in satisfaction of Share Interest on or prior to the redemption date and the arithmetic mean of the volume weighted average price for one share for the 10 consecutive trading days ending on the trading day immediately prior to the redemption date. The bonds are convertible into common shares at a conversion price of CAD 0.70 per share for a time period of four months and a day from the date of issuance. 294,619 shares will be issued to the company at a deemed price of CAD 0.102 per share, the volume-weighted average TSX-V trading price of the shares for ten days preceding the interest payment date.