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Valoe to convert more convertible notes held by Winance
By Marisa Wong
Los Angeles, July 1 – Valoe Corp. is converting a €25,000 portion of its convertible notes into shares of the company at a conversion price of €0.05 per share, according to a news release on Monday.
The conversion of the notes is being made at the request of Winance, which entered into a financing arrangement with Valoe on Dec. 20, 2018.
Valoe has been making similar conversions periodically since May 2019.
Under the latest conversion, Valoe will transfer 500,000 treasury shares to Winance. After the transfer, Valoe will have 5,240,616 treasury shares in total.
Based in Mikkeli, Finland, Valoe specializes in clean energy, especially in photovoltaic technology.
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