BetterLife Pharma Inc. announced a private placement for issuance of 10% convertible debentures for gross proceeds of CAD 1,168,000 on April 3, 2024. The CAD 800,000 of the convertible debentures matures on March 27, 2026 and CAD 368,000 mature on April 1, 2026. The convertible debentures are convertible at the option of the holder into units, consisting of one common share and one share purchase warrant, at a conversion price of CAD 0.10 per unit.

Each share purchase warrant will have an exercise price of CAD 0.10 and will expire on either September 27, 2026 or October 1, 2026. The transaction included participation from returning investors Ahmad Doroudian, Chief Executive Officer of the company, and Steven Sangha for CAD 100,000 each.