Treatment.Com International Inc. announced a non-brokered private placement of 400 unsecured convertible debentures at a price of CAD 850 per debenture for gross proceeds of CAD 340,000 on May 18, 2022. The debentures were issued at a discount of 15%. The debentures bear interest at a rate of 8.00% per annum, accruing on a semi-annual basis and payable, in cash or units of the company, every 6 months from the date of issue, maturing 24 months from the date of issue.

Each unit will consist of one common share in the capital and one transferable share purchase warrant with each warrant being exercisable into one share at a price of CAD 0.50 per warrant share for a period of two years following the issue date. The principal amount of CAD 400,000 is convertible, at the option of the holder, into units at a conversion price equal to CAD 0.41 per unit at any time following the issue date until the earlier of the business day immediately preceding the maturity date, being May 17, 2024; and the business day immediately preceding the date fixed for redemption of the debentures by the company. The company will pay a finders fee of CAD 1,700.

The debentures and the units issuable thereunder are subject to a statutory hold period of four months and one day commencing on closing.