Paramount Gold and Silver Corp (PZG)

[REAGAN]

Bondholders are interest payments annually converted at $1.00 per share Great news

In September 2019, the Company entered into agreements with accredited investors and issued convertible notes in a private
transaction (the “Private Placement”). Under the terms of the Private Placement, Paramount sold an aggregate of 5,478 notes at $975
per $1000 face amount with a four-year maturity for aggregate proceeds of $5.34 million. Each convertible note bears an interest rate
of 7.5% per annum, payable semi-annually. The principle amount of the convertible notes is convertible at a price of $1.00 per share
of Paramount common stock. At any point after the second anniversary of the issuance of the convertible notes, Paramount may force
conversion if the share price of its common stock remains above $1.75 for 20 consecutive trading days. The convertible notes are
secured by a lien on all assets of the Company and, pursuant to the terms of the convertible notes, the Company is required to maintain
a working capital balance of $250,000.