Marvel Biosciences Corp. announced a non-brokered private placement that it has issued unsecured convertible debentures for the gross proceeds of CAD 500,000 on January 19, 2024. The Debentures will mature 3 years following the date of issuance and will bear interest at a rate of twelve percent 12% per annum , payable annually in arrears. Interest may be repaid in cash or common shares, at the option of the company, based on the 20-day volume weighted average trading price of the common shares on the TSX Venture Exchange, calculated 3 days prior to the payment date, subject to the minimum price permitted by the TSX Venture Exchange. In the event that the volume weighted average trading price of the common shares on the TSX Venture Exchange is at least CAD 0.60 per share for a period of 10 consecutive trading days, at any time during the term of the debentures, the company shall have the right, at its discretion, to require the holder of the debentures to convert the outstanding principal amount into common shares at the conversion price. The company did not pay any commission, finder?s fee, or similar payment in connection with the offering. Pursuant to applicable Canadian securities laws, the debentures, as well as any underlying common shares to be issued upon conversion or exchange of these securities, are subject to a hold period of four months and one day. The Private Placement remains subject to the final approval of the TSX Venture Exchange.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from one placee including pro group involvement of one pro group for 4,166,667.