MPX International Corporation announced a non-brokered private placement of minimum of 3,000 units for gross proceeds of CAD 4,000,000 and a maximum of 3,700 units for gross proceeds of CAD 5,000,000 on June 18, 2020. Each unit consists of one 12% secured convertible debenture in the principal amount of $1,000.00 (CAD 1,351.3513) and 7,000 common share purchase warrants. The debenture carries a coupon of 12% per annum and will have a maturity date of 24 months from the date of issuance, subject to certain conversion privileges as set forth in a debenture indenture with AST Trust Company (Canada). Each debenture will rank pari passu in right of payment of principal and interest with all other debentures issued under the offering. The debenture is convertible into common shares of the company at an exercise price of CAD 0.12 per share. Each warrant will entities to the holders to purchase one common shares at CAD 0.20 per share for a period of 24 months. The compensation warrants shall be exercisable at the exercise price for a period of 2 years from the applicable closing date of the offering. The transaction is subject to regulatory and Canadian Securities Exchange approval and may occur in multiple tranches. All securities issued in connection with the transaction will be subject to a statutory four-month and one day hold period. The debentures will be payable quarterly in arrears. The company may pay in cash fee equal of 5% of the aggregate gross proceeds paid by each purchaser of units that are invested in the transaction. In addition, the corporation may issue that number of common share purchase warrants equal to 5% of the aggregate number of common shares underlying the debentures if converted as of the closing date and the warrants issued to purchasers of the units excluding the aggregate number units purchased by investors that participated in the corporation’s equity raise which closed in March 2019.