Better Plant Sciences Inc. announced a private placement of up to 2,000 units on a best efforts basis at a price of CAD 1,000 per unit for gross proceeds of up to CAD 2,000,000 on August 6, 2021. Each unit will consist of a 10% convertible unsecured debenture and 12,500 common share purchase warrants of the company. The company will also grant to the agent an over-allotment option to offer up to an additional 15% of units or up to an additional CAD 300,000 in units. The debentures will bear interest at a rate of 10% per annum on an accrual basis from issuance, calculated and payable semi-annually in arrears on May 31 and November 30 of each year with such payment commencing on November 30, 2021 with a redemption date that is 24 months from issuance. The debentures will be convertible in full or in part, at the holders’ option, into common shares in the capital of the company at a price of CAD 0.08 per common share, at any time prior to their redemption. Each Warrant will entitle the holder thereof to acquire one common share of the company at a price of CAD 0.11 per share for a period of 36 months from the date of issue. The units will be subject to a statutory hold period expiring four months and one day from the closing date. The units will be offered and sold by private placement in Canada to accredited investors. Closing of the transaction is subject to the satisfaction of customary conditions, including completion of due diligence by the agent. The transaction is expected to be completed in multiple tranches.