Robix announced that it has entered into an engagement letter with MRCC, under which MRCC will act as Robix's agent to use its best efforts to sell, on a private placement basis, senior secured non-convertible debentures in the principal amount of up to $6,000,000. The Debentures will bear interest at such rate to be determined in the context of the market and will mature on June 30, 2020. The Debentures may be redeemed by the Corporation prior to June 30, 2019 in the event of a change of control, and after June 30, 2019 on 30 days' prior written notice, at a price equal to 104% of the principal amount of such Debenture, plus all accrued and unpaid interest. In addition, in the event of a change of control, the holders of the Debentures will have the right to require the Corporation to repurchase their Debentures at a price equal to 101% of the principal amount of such Debenture, plus all accrued and unpaid interest and if 90% of more of the principal amount of the Debentures have been tendered for repurchase, the Corporation will have the right to redeem all of the remaining Debentures at the same price. The Debenture Offering is expected to close on or about April 30, 2017.