UrtheCast Corp. (TSX:UR) announced a private placement of CAD 6,600,000 from Vine & Roses on September 11, 2019. The company issued a senior unsecured convertible debenture in the principal amount of CAD 2,979,538 and a senior unsecured non-convertible debenture in the principal amount of CAD 3,620,462. The debentures accrue an interest rate of 17% per annum and will mature on October 31, 2019. The convertible debenture is convertible into common shares of the company at any time prior to the maturity date at a conversion price equal to CAD 0.32 per common share, subject to adjustment in certain circumstances wherein it will convert at a lower price but not less than CAD 0.24, subject to the approval from the Toronto Stock Exchange. As a part of the transaction, the company paid the investors a 3% finance fee of CAD 198,000.