Material Change Report filed 6/9/14. My only question is whether the $0.09 conversion price is a post reverse split price. If it was based on no split, that means there is confidence the price will go above that. This reverse split is the key to everything.
51-102F3 MATERIAL CHANGE REPORT [F]
Item 1 Name and Address of Company
Biomass Secure Power Inc. (the “Company”)
40218 Wellsline Road
Abbotsford, BC V3G 2K7
Item 2 Date of Material Change
June 4, 2014
Item 3 News Release
Not Applicable.
Item 4 Summary of Material Change
On June 4, 2014, the Company completed a private placement of Convertible Debentures (each,
a “Debenture”) in the aggregate principal amount of $130,000. The Debentures will mature
(“Maturity”) on the first day of the calendar month that is eight (8) months from Closing and
will not accrue interest. Pursuant to the terms of the Debentures, and subject to adjustment, the
subscriber may convert all or any part of the principal amount outstanding under the
Debentures into common shares in the capital of the Company (each, a “Share”) on the earlier of
(a) Maturity and (b) the date the Shares are listed on the TSX Venture Exchange at a conversion
price of $0.10 per Share unless conversion is effected at Maturity, in which even the principal
amount will be converted at a conversion price of $0.09 per Share.
Item 5 Full Description of Material Change
5.1 Full Description of Material Change
See Item 4 for a full description of the material change.
5.2 Disclosure for Restructuring Transactions
Not Applicable.
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
Not Applicable.
Item 7 Omitted Information
None
Item 8 Executive Officer
James Carroll President, CEO, Chief Financial Officer, and Director, 604 807-4957
Item 9 Date of Report
June 9, 2014
