Pretty sure the interest rate is 20%... which will mean the repayments on the total con-notes will be USD$6.84 mil.
The way I read it is that USD$4.75 mil was drawn from the con-notes to pay the USD$5 mil upfront (the other $0.25 mil was to be from temorex but not mentioned again.
The additional USD$1 mil in con-notes was used to repay some of the outstanding standing debt.
SO total funds recieved either USD$5.75 mil (or USD $6 mil with Temorex) so at the 20% interest witll be USD$6.84 mil (or USD$7.2 mil with Temorex)
As usual the announcement was clear as mud though.
VEC Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held