Ventripoint has successfully closed the first tranche of its amended non-brokered private placement of convertible debentures, raising $341,000. The debentures offer holders the option to convert them into common shares at a predetermined price, with automatic conversion triggered if the company's share price reaches certain thresholds.
Ventripoint has closed the first tranche of its amended non-brokered private placement of unsecured convertible debentures. The company issued an aggregate of $341,000 principal amount of Debentures with an issue price of $1,000 principal amount per Debenture, which will mature on June 28, 2027. Each $1,000 of Debenture is convertible into common shares of the Corporation at a conversion price of CDN$0.10 for the first year, CDN$0.15 for the second year, and at CDN$0.25 thereafter.
Debentures bear simple interest at an annual rate of 10%. Accrued but unpaid interest is due and payable semi-annually in arrears in either cash or at the option of the Corporation 40% cash and 60% Common Shares, or 100% common shares at the option of the holder. The number of Common Shares will be determined using the 20-day volume-weighted average price of the Common Shares on the TSX Venture Exchange five days prior to the last trading day of the applicable period. The Debentures will convert automatically into Common Shares if the Corporation’s Common Shares closing price prior to October 20, 2026, exceeds 100% of the Conversion Price for 5 consecutive trading days. The Corporation has the option to purchase that number of Common Shares as is equal to 50% of the shares issuable on conversion of the Debentures until October 20, 2026, at an exercise price of $0.28 per share. If the Common Shares of the Corporation closing price on the Exchange exceeds $1, Ventripoint may call the outstanding Debentures for automatic conversion
FINANCE INVESTMENT CONVERTABLE DEBENTURES VENTRIPOINT STOCK MARKET
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