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SUBSEQUENT EVENTS
6 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 14. SUBSEQUENT EVENTS


In January 2021, the Company purchased HIVE convertible securities for $15.0 million. The convertible securities are comprised of 8.0% interest-bearing unsecured convertible debentures with a principal amount of $15.0 million, maturing in five years, and 5 million common share purchase warrants in the capital of HIVE. The principal amount of each debenture is convertible into common shares in the capital of HIVE at a conversion rate of $2.34. Each whole warrant, expiring in 36 months, entitles the Company to acquire one common share at a price of $3.00 (Canadian).


In February 2021, the Board authorized an increase in the monthly dividend to $0.0050 per share for February and March 2021, at which time it will be considered for continuation by the Board. Payment of cash dividends is within the discretion of the Company’s Board of Directors and is dependent on earnings, operations, capital requirements, general financial condition of the Company, and general business conditions. The total amount of cash dividends expected to be paid to class A and class C shareholders from January to March 2021 is approximately $188,000.