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Aston Bay Holdings Ltd. (TSXV:BAY) has amended the payment terms in the Memorandum of Understanding with Lyncorp International Ltd. Aston Bay will pay $300,000 in cash by July 10, 2014; $325,000 in cash by August 10, 2014; and $375,000 in cash or stock (valued on the previous 10-day weighted average prior to the date of payment).
As quoted in the press release:
Aston Bay and Lyncorp have agreed to modify the payment terms, such that the Company will pay $300,000 in cash by July 10, 2014; $325,000 in cash by August 10, 2014; and $375,000 in cash or stock (valued on the previous 10-day weighted average prior to the date of payment), which is to be made by July 10, 2015. The amended payment terms allow for less effective dilution of the Company’s stock, which is currently trading higher than on the date of the original MOU.
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