TraceSafe Inc. announced that it has it has issued non-transferable, unsecured convertible notes for gross proceeds of CAD 306,000 on October 20, 2021. The debentures will carry an interest rate of 10.5% per annum and will mature at 12 months from closing, payable on the last business day of each month, beginning on November 30, 2021. The notes are convertible into units at a conversion price of CAD 0.65 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one share at an exercise price of CAD 1.25 per share for a period of two years from the date of issuance. The debentures will be subject to a statutory hold period for a period of four months and one day from the closing date. The company will pay finders a fee equal to 3% of the aggregate gross proceeds, subject to the policies of the Canadian Securities Exchange.