Closes $225K convertible note private placement
Issued note to institutional investor with 10% original issuance discount; note bears 8% annual interest, rising to 14% upon event of default. - Note is not repayable in cash and will be satisfied solely through common share issuance upon conversion at the lower of $0.152/shr or 90% of the lowest daily VWAP during the 20 trading days before conversion, subject to a $0.0303 floor. - Issued warrants to buy up to 1.5M common shares at C$0.22/shr, immediately exercisable and expiring July 1st, 2031; net proceeds for general corporate purposes.
Issued note to institutional investor with 10% original issuance discount; note bears 8% annual interest, rising to 14% upon event of default. - Note is not repayable in cash and will be satisfied solely through common share issuance upon conversion at the lower of $0.152/shr or 90% of the lowest daily VWAP during the 20 trading days before conversion, subject to a $0.0303 floor. - Issued warrants to buy up to 1.5M common shares at C$0.22/shr, immediately exercisable and expiring July 1st, 2031; net proceeds for general corporate purposes.