The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 27, 2023.
Convertible debenture: $1.05-million
Conversion price: convertible into 2.1 million common shares
Maturity date: Jan. 12, 2026
Interest rate: convertible debenture bears interest at the rate equal to the lesser of: (a) the United States secured overnight financing rate, as published by the New York Federal Reserve, plus 7 per cent per annum; and (b) 12.5 per cent
Number of placees: one placee
Total existing insider involvement: 2.1 million (one insider)
The company issued a news release on Nov. 8, 2023, confirming the closing of the private placement.
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