THC Biomed Intl Ltd. announced a non-brokered private placement of convertible debentures for gross proceeds of CAD 250,000 on January 7, 2022. The transaction included participation from a company owned by John Miller, Chief Executive Officer and Director and Hee Jung Chun, Chief Financial Officer and Director. The debenture will mature within 12 months and bear rate of interest at 12% per annum payable monthly.

The debenture is convertible into common shares at a price of CAD 0.08 per share at any time at the election of the company. The company may provide 30 day's written notice to the investor that it intends to prepay the entire principal amount plus the interest accrued up to the date of prepayment.