Direct Communication Solutions, Inc. announced a private placement of unsecured convertible debentures for gross proceeds of $1.3 million on February 7, 2022. The debentures are convertible into units at the higher of $1.18 or a price equal to the price of the shares or units of the next financing carried out before the 2nd anniversary of the closing date less a 30% discount. The units shall comprise a share and one-half of one warrant where a whole warrant shall be exercisable at $0.39 per common share for a two year term.

The debentures have a maturity date of the 2ndanniversary of the closing date and bear an interest rate of 10% per annum, payable semi-annually. The company may pay finder's fees to eligible finders in cash or warrants or a combination of both.