WPD Pharmaceuticals Inc. announced that it will issue 18% unsecured convertible debentures for the gross proceeds of CAD 300,000 on May 1, 2023. The debentures bear 18% interest rate per annum compounded monthly until maturity and after default and will mature three years from the date of issuance. Each Debenture will be convertible into units of the Company at a conversion price of CAD 0.05 per unit.

Each unit will consist of one common share and one share purchase warrant exercisable to purchase one additional common share at a price of CAD 0.05 for three years from the date of issuance. The Company may pay finder's fees in cash in connection with the transaction.