Mr. Tajinder Johal reports
GRAND PEAK ANNOUNCES $1 MILLION NON-BROKERED PRIVATE PLACEMENT
OF UNSECURED CONVERTIBLE DEBENTURES
Grand Peak Capital Corp. will conduct a non-brokered private placement to raise up to $1-million by the issuance of unsecured convertible debentures of the company.
The term of each convertible debenture will be one year from the date of issuance. Each convertible debenture will carry an interest rate of 8 per cent per annum. The company may prepay all or part of the convertible debenture, without bonus or penalty, at its discretion. The convertible debenture will be convertible into common shares of the company at a fixed price of $1 per share, provided that the holder will not be able to convert in the event that such conversion will result in him holding more than 9.9 per cent of the issued and outstanding shares of the corporation without prior written consent of the corporation.
The proceeds of the offering will be used by the company for investment and general working capital purposes. Underlying securities issued in connection with this offering will be subject to a statutory hold period. This offering may be subject to exchange approval.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.