On May 15th, I post the paragraph below:

On May 6th (filed on SEDAR May 7th), Zenith transacted a convertible debenture deal worth $701,600 CAD. The deal was done in US dollars so probably not a Canadian party. It was for 500 convertible debentures @ $1403.20 CAD so since it was done in USD, probably $1000 USD each. It appears that it runs to May 6th, 2022 and is convertible into units of common shares and warrants until that date @ 2.81 CAD (probably $2.00 USD). It did not give a warrant ratio. Warrants are exercisable until May 6, 2022 @ $2.81 CAD (probably $2.00 USD). I have a request in to Zenith for more complete information. 

This past week, I received the following reply:

Dec. 31, 2020 expiry at 10% per annum. This is the amount of detail we are able to provide along with what is visible on SEDAR.

Best regards,

Zenith IR

The SEDAR filing states the following:

CVD;  Exercise Price -  Highest 2.81, Lowest 2.81; Expiry Date – 2022-05-06; convertible                       into units (share and warrant)

WNT; Exercise Price -                          Lowest 2.81;  Expiry Date – 2022-05-06

The conversion ratio space is blank.

I find this a little confusing so will let each interpret for themselves. I thought the CVD went until 2022-05-06 until last week’s statement of Dec. 31, 2020. It appears that the CVD is due then. Maybe the Exercise Price and Expiry with the CVD on SEDAR is referring to the warrants but why state that twice? If it was the conversion price from CVD to Units, they would have a conversion ratio but they don’t give one. IR would not give me a conversion ratio within the units for warrants so we are left with the phrase, “convertible into units (share and warrant)” to maybe mean a whole warrant.

Each read this as you will!