Here´s some help:
The parties have agreed that the terms of the purchase agreement will provide for the transfer of the Red Mountain Property from Seabridge to BTR, in consideration for BTR agreeing to pay Seabridge Cdn$11,950,000, comprised of Cdn$6,950,000 in cash and Cdn$5,000,000 pursuant to the issuance of a secured three year 3% convertible debenture, with interest payments due semi-annually. Seabridge may elect to convert any portion of the principal amount of the convertible debenture into common shares of BTR at a conversion price equal to the offering price of the financing as described below. At maturity, any portion of the convertible debenture not converted into common shares of BTR will be paid in cash. Repayment of the convertible debenture will be secured against BTR's interest in the Red Mountain Property.
Closing of the Transaction
Closing of the proposed transaction is subject to approval by the TSX Venture Exchange, completion of a financing in an amount necessary to cover the cash consideration of the transaction at a price of not less than Cdn$0.50 per share and receipt by Seabridge of all necessary consents, agreements and waivers of rights of first refusal required to transfer the Red Mountain Property to BTR.
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so the convertibles are already in the money (BTR trades at 63 Cents) and the total value of the deal right now is 13.3 Million C$
