Birchtree Investments Ltd. announced a private placement that it will issue a subordinated unsecured convertible debenture of the Company for the gross proceeds of up to CAD 200,000 on March 17, 2025. The Debenture shall have a term of six months and shall bear interest at a rate of 1.0% per month, payable on maturity. The Debentures will be convertible into common shares in the capital of the Company at the market price of the Common Shares at the time of conversion, subject to the approval of the Canadian Securities Exchange in the event such price is below CAD 0.05, determined by the most recent closing price of the Common Shares on the day of conversion, at the option of the holder at any time prior to the close of business on the earlier of the last business day immediately preceding the Maturity Date, and the date fixed for redemption.
The securities issuable pursuant to the Offering, including Common Shares issuable upon conversion, if applicable, are subject to a hold period of four months and a day from the date of closing of the Offering. No finders fees are payable in connection with the Offering.
