10. Convertible Debentures Receivable and Embedded Derivative On February 12, 2015, the Company purchased $500,000 of convertible debentures in Sprylogics International Corp. The convertible debentures bear no interest, are convertible into common shares at $0.38 per share, and mature on February 12, 2017. As part of the investment, the Company also received 1,315,789 warrants; each warrant is convertible into one common share at a price of $0.45, expiring on February 12, 2017.
13. Convertible Debenture Payable and Derivative Liability (continued) The HC2 Warrant was issued upon closing of the reverse acquisition and is treated as a derivative liability, which is revalued at fair value at the end of each reporting period.
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