On march 1, 2023, Sandhill Corporation issued $350,000 of 9% non-convertible bonds at 105, which are due on February 28, 2043. In addition, each $1,000 bond was issued with 25 detachable stock warrants, each of which entitled the bondholder to purchase one of Sandhills no par value common shares for $50. The bonds without the warrants would normally sell at 94. Sandhill prepares its financial statements in accordance with IFRS.