The very same mate.
Convertible notes are ok if the conversion price is set (no incentive for price to reduce)... Not if it is based on VWAP... Incentive for the note holder to have the price as low as possible, and it generally happens.
Furthermore, most people know this and that a convertible note with such terms is a last resort.. So they start to question why the company would agree in the first place unless they were desperate.
Ann: EUR Secures Funding to fast-track DFS of Wolfsberg Project, page-6
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