19:41:11 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Promino Nutritional Sciences Inc (2)
Symbol MUSL
Shares Issued 60,351,827
Close 2024-04-18 C$ 0.155
Market Cap C$ 9,354,533
Recent Sedar Documents

Promino obtains $1M bridge loan from private company

2024-04-19 00:29 ET - News Release

Mr. Vito Sanzone reports

PROMINO NUTRITIONAL SCIENCES ANNOUNCES $1,000,000 BRIDGE LOAN

Promino Nutritional Sciences Inc. has entered into an agreement with a private B.C. company, pursuant to which the lender will make an unsecured bridge loan of up to $1-million to the company. The bridge loan matures 12 months from the effective date of the loan agreement. Advances made under the bridge loan will accrue simple interest at a rate of 12 per cent per annum, starting from the date of such advance, payable semi-annually in arrears. The proceeds from the bridge loan will be used for general corporate and working capital purposes and repayment of indebtedness. Subject to approval of the Canadian Securities Exchange, if applicable, the lender will have the option at any time after maturity to convert all or any part of the outstanding bridge loan into common shares of the company at a price of 17 cents per share.

About Promino Nutritional Sciences Inc.

Promino is an innovative and research-driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on muscle health. Promino's lead product, Rejuvenate, is a patented proprietary formulation that is clinically proved to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Promino also offers Promino, an elite performance supplement for both professional and amateur athletes, to accelerate muscle recovery, build strength and accelerate recovery from injury. Promino was founded in 2015 and is located in Burlington, Ont.

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