Latest news with #convertibledebentures
Associated Press
2 days ago
- Business
- Associated Press
BioNxt Solutions Announces Convertible Debenture Unit Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / July 11, 2025 / BioNxt Solutions Inc. ('BioNxt' or the 'Company') (CSE:BNXT)(OTC PINK:BNXTF)(FSE:BXT), is pleased to announce its intention to complete a non‐brokered private placement (the 'Offering') of convertible debenture units (the 'Debenture Units') at a price of $0.60 per Debenture Unit, for gross proceeds of up to $1,200,000. Each Debenture Unit consists of: (i) $0.60 principal amount of 8.0% unsecured convertible debentures (the 'Debentures') and (ii) one common share purchase warrant (each a 'Warrant'). Each Warrant entitles the holder to acquire one common share in the capital of the Company (a 'Common Share') at a price of $0.75 per Common Share for a period of two years following the date of issuance. The Debentures bear interest from their issue date at 8.0% per annum on an accrual basis, calculated and payable on an annual basis, up to and including the date which is two years following the date of issuance (the 'Maturity Date'). The principal amount of the Debentures is convertible, at the option of the holder, into Common Share at any time prior to the Maturity Date, at a conversion price of $0.60 per Common Share (the 'Conversion Price'). At the election of the Company, the interest payable on the principal amount of the Debentures may be settled by a cash payment or through the issuance of Common Shares at the Conversion Price. The Company intends to use the net proceeds from the Offering for product development and commercialization, intellectual property filings, and general working capital. There is no minimum number of Debenture Units or minimum aggregate proceeds required to close the Offering and the Company may, at its discretion, elect to close the Offering in one or more tranches. In connection with the Offering, Company may pay a cash finder's fee of up to 8% of the gross proceeds of the Offering and may issue to certain eligible finders non-transferable broker warrants (the 'Broker Warrants') of up to 8% of the number of Debenture Units sold under the Offering. Each Broker Warrant will entitle the holder to purchase one Common Share (a 'Broker Share') at an exercise price of $0.60 per Broker Share for a period of two years from the date of issuance of the Broker Warrants. The securities of the Company to be issued in connection with the Offering, and any Common Shares issuable upon conversion or exercise thereof, will be subject to a statutory hold period of four months and one day. About BioNxt Solutions Inc. BioNxt Solutions Inc. is a bioscience innovator focused on next‐generation drug delivery technologies, diagnostic screening systems, and active pharmaceutical ingredient development. The Company's proprietary platforms-Sublingual (Thin‐Film), Transdermal (Skin Patch), and Oral (Enteric‐Coated Tablets)-target key therapeutic areas, including autoimmune diseases, neurological disorders, and longevity. With research and development operations in North America and Europe, BioNxt is advancing regulatory approvals and commercialization efforts, primarily focused on European markets. BioNxt is committed to improving healthcare by delivering precise, patient‐centric solutions that enhance treatment outcomes worldwide. BioNxt is listed on the Canadian Securities Exchange: BNXT, OTC Markets: BNXTF and trades in Germany under WKN: A3D1K3. To learn more about BioNxt, please visit Investor Relations & Media Contact Hugh Rogers, Co‐Founder, CEO and Director Email: [email protected] Phone: +1 778.598.2698 Web: LinkedIn: Instagram: THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF ANY OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. THE DEBENTURES AND THE SHARES WHICH MAY BE ISSUED ON EXERCISE THEREOF HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE 'U.S. SECURITIES ACT') AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. Cautionary Statement Regarding 'Forward‐Looking' Information This news release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Forward-looking information in this news release includes the anticipated completion of the Offering, the estimated proceeds to be raised pursuant to the Offering, and projected use of proceeds from the Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. SOURCE: BioNxt Solutions Inc. press release
Globe and Mail
4 days ago
- Business
- Globe and Mail
Galleon Gold Closes the First Tranche of a $7.5M Oversubscribed Private Placement of Convertible Debentures
Toronto, Ontario--(Newsfile Corp. - July 9, 2025) - Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90) (the " Company" or " Galleon Gold") is pleased to announce that it has closed the first tranche of its non-brokered private placement offering of convertible debentures (the " Offering") previously announced on July 2, 2025 and July 7, 2025. The Company has issued 130 convertible debentures (the " Debentures") for gross proceeds of $6,500,000. The remaining subscription of $1,000,000 is expected to close shortly. Comment from the CEO David Russell, CEO and President of Galleon Gold comments, "We would like to welcome our new investors and thank the current shareholders who also participated in the Offering, including Eric Sprott and Michael Gentile. We look forward to providing updates on the West Cache bulk sample program as we start the surface development." The Offering The Debentures have a term of 36 months (the " Term") from the date of issuance, bear interest at a rate of 8.0% per annum payable in cash or Common Shares at the option of the investor at the end of the Term. The Debentures are convertible into common shares of the Company (the " Common Shares") at $0.30 per share (the " Conversion Price"). At any time during the Term, each holder of Debentures may elect to convert any portion of the principal amount of the Debentures into Common Shares at the Conversion Price. If an investor exercises the Debentures prior to the end of the Term the accrued interest to that date will be payable in Common Shares and the price will be based on the higher of the average closing price of the last 20 trading days or the closing market price. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, and an insider of the Corporation, acquired 20 Debentures for $1,000,000 and an officer of the Company also acquired 2 Debentures under the Offering for $100,000. The participation of the insiders in the Offering constituted "related party transactions" for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101"). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 in connection with the insider participation contained in sections 5.5 (a) and 5.7 (1) (a) of MI 61-101, as neither the fair market value of the securities issued to the related parties, nor the fair market value of the consideration for the securities issued exceeds 25% of the Company's market capitalization as calculated in accordance with MI 61-101. The Company did not file a material change report containing all of the disclosure required by MI 61-101 more than 21 days before the expected closing date of the Offering as the aforementioned insider participation had not been confirmed at that time and the Company wished to close the Offering as expeditiously as possible. Finders' fees consisting of a cash commission of $369,000 and 1,230,000 non-transferrable finders' warrants have been paid in connection with this closing of the Offering. Each finder warrant entitles the holder to acquire one common share at $0.36 per share over a two (2) year period. The Company intends to use the proceeds raised from the Offering for the exploration and advancement of the Company's West Cache Gold Project in Timmins, Ontario and for general working capital purposes. The Debentures, Finder's Warrants, if applicable, the underlying Common Shares, will be subject to a hold period of four months and one day from the date of closing in accordance with applicable securities laws. The Offering is subject to the final acceptance of the TSX Venture Exchange. This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. About Galleon Gold Galleon Gold is an advanced exploration and development company focused on the West Cache Gold Project in Timmins, Ontario. The Project is located 7 km northeast of Pan American Silver's Timmins West Mine and 14 km southwest of the Hollinger Mine. The Company is gearing up for its first test mining at West Cache; the 86,500-tonne underground bulk sample is designed to produce 22,600 ounces of gold (prior to recoveries) and provide valuable data for pre-feasibility studies. Galleon Gold's strategy is to systematically derisk the Project while continuing to grow the asset through grassroots exploration. For further information: Galleon Gold R. David Russell Chairman and CEO T. (416) 644-0066 info@ Forward-Looking Statements This news release contains certain "forward-looking statements," as defined under applicable Canadian securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to the Offering, the use of proceeds from the Offering, the expected closing of second tranche of the Offering, its long-term strategy, proposed work, plans, bulk sample program and other reports including the PEA for its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which Galleon Gold operates. Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions and uncertainty of access to additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals, risks associated with development, construction, mining operations and third party contractor activities, risks related to unanticipated events related to health, safety and environmental matters. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Yahoo
04-07-2025
- Business
- Yahoo
Permex Petroleum Announces US$2,000,000 Private Placement of Convertible Debentures
Vancouver, British Columbia--(Newsfile Corp. - July 4, 2025) - Permex Petroleum Corporation (CSE: OIL) (FSE: 75P) ("Permex" or the "Company") is pleased to announce a private placement (the "Offering") of convertible debenture units of the Company (the "Units") for gross proceeds of US$2,000,000. Pursuant to the Offering, the Company will issue 2,000 Units to a single arm's length subscriber, with each Unit consisting of one convertible debenture (a "Debenture") in the principal amount of US$1,000 and 393 common share purchase warrants (each, a "Warrant"). Each Warrant is exercisable for a period of five years from the date of issuance for one common share of the Company (a "Share") at an exercise price of US$2.54. The Debentures will mature (the "Maturity Date") one-year from the date of issuance. The Debentures bear simple interest at a rate of 10%, payable on the Maturity Date or the date on which all or any portion of the Debenture is repaid. Interest will be paid in cash or Shares based on a conversion price of US$2.54 (the "Conversion Price"), subject to the approval of the Canadian Securities Exchange (the "Exchange"). At any time during the term of the Debentures, a holder of Debentures may elect to convert the outstanding principal and any accrued and unpaid interest thereon into Shares at the Conversion Price. The Debentures will automatically convert into Shares at the Conversion Price in the event the Company completes a financing of Shares for aggregate gross proceeds of at least US$7,500,000. Any conversion of the Debentures which would exceed certain dilution thresholds is subject to the appropriate approvals, including shareholder approval if required by the policies of the CSE. The proceeds of the Offering are expected to be used for general working capital purposes. No finders' fees will be paid in connection with the Offering. The Conversion Price and exercise price of the Warrants was determined at the time discussions commenced between the Company and subscriber and is based on the closing price of the Company's Shares on the CSE on May 7, 2025. The Company obtained confidential price protection from the CSE for the Conversion Price and exercise price of the Warrants on May 7, 2025. The Company confirms that there has been no undisclosed material information with respect to the Company between May 7, 2025 and the date of this news release, and is not aware of any reason for the recent volatility in its trading price. The Company intends to close the Offering following the 5-day notice period required by CSE policy. The Units offered in the Offering have been and will be offered only to persons who either qualify as an "accredited investor" as defined in Rule 501(a) of Regulation D under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or who are located outside of the United States and are not a "U.S. person" as defined in Regulation S under the U.S. Securities Act. All securities issued pursuant to the Offering and underlying securities will be subject to a four-month hold period from the date of issuance pursuant to applicable Canadian securities laws, in addition to such other restrictions as may apply under the U.S. Securities Act and other applicable securities laws of jurisdictions outside of Canada. None of the securities to be offered in the Offering have been and will not be registered under the U.S. Securities Act or under any U.S. state securities laws and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. This news release is being issued pursuant to and in accordance with Rule 135c under the U.S. Securities Act. About Permex Petroleum Corporation Permex Petroleum (CSE: OIL) (FSE: 75P) is a uniquely positioned junior oil & gas company with assets and operations across the Permian Basin of West Texas and the Delaware Sub-Basin of New Mexico. The Company focuses on combining its low-cost development of Held by Production assets for sustainable growth with its current and future Blue-Sky projects for scale growth. The Company, through its wholly owned subsidiary, Permex Petroleum US Corporation, is a licensed operator in both states, and owns and operates on private, state and federal land. For more information, please visit Contact Information Permex Petroleum CorporationBrad TaillonChief Executive Officer (713) 730-7797 Renmark Financial Communications USA Perron, CPIR: hperron@ (416) 644-2020 or (212)- Cautionary Disclaimer Statement: Neither Canadian Securities Exchange, nor its Regulation Services Provider (as that term is defined in their respective policies) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This press release contains both "forward-looking information" and "forward -looking statements" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" and "forward looking statements" each include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information and forward looking statements include, without limitation, the completion of the Offering and the use of proceeds from the Offering. Neither forward-looking information or forward-looking statements are a guarantee of future performance and are each based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, that: the Company will complete the Offering as anticipated; there will be no changes in the Company's business plans; and that the Company will be able to use the proceeds from the Offering as anticipated. Furthermore, such forward-looking information and forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information or forward-looking statements, including without limitation: the inability for the Company to close the Offering; the inability to use the proceeds from the Offering as expected; recent market volatility; and the state of the financial markets for the Company's securities. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor. To view the source version of this press release, please visit
Associated Press
04-07-2025
- Business
- Associated Press
Wildpack Provides Update on Outstanding Debenture Payments
VANCOUVER, BC / ACCESS Newswire / July 3, 2025 / Wildpack Beverage Inc. (TSXV:CANS)(OTC PINK:WLDPF) ('Wildpack' or the 'Company') announced today that it was unable to pay the outstanding principal and interest on its 8% senior unsecured convertible debentures, which was due on June 30, 2025. To date, the Company has not secured an extension of its deadline for payment, nor has it received an official demand for payment from the trustee for the debentures. However, there can be no assurance that an extension will be obtained or that such a demand will not be made. The aggregate principal amount of debentures due for payment is C$20 million, plus accrued and unpaid interest of approximately C$2.4 million. The Company also has an additional C$20 million of principal, plus accrued and unpaid interest of approximately C$2.4 million in respect of a series of unsecured convertible debentures due November 23, 2025 and C$5.007 million of principal, plus accrued and unpaid interest of approximately C$600,840 in respect of a series of unsecured convertible debentures due March 31, 2026. As previously disclosed, the Company continues to be actively engaged in discussions with various stakeholders to restructure the Company's debt. Strategic and financial alternatives under consideration are focused on relieving the financial burden of the Company's current debt structure and obtaining additional financing necessary to fund ongoing operations. There can be no assurance that the current process will result in a transaction or, if a transaction is undertaken, that it will be successfully concluded in a timely manner or at all. About Wildpack Wildpack provides beverage manufacturing and packaging to the middle market by providing sustainable aluminum can filling, decorating, packaging, brokering, and logistics to customers throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of four facilities in Baltimore, Maryland; Grand Rapids, Michigan; Austin, Texas, and Las Vegas, Nevada. Wildpack commenced trading on the TSX Venture Exchange under the symbol 'CANS' on May 19, 2021. Forward-Looking Statements This news release may contain 'forward-looking statements' within the meaning of applicable Canadian securities laws, including, but not limited to, statements with respect to the ability of the Company extend the due date for its debentures or to restructure its debt and the associated transactions to be completed in connection therewith. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks including but not limited to risks related to the ability of the Company extend the due date for its debentures or to restructure its debt and the associated transactions to be completed in connection therewith. These statements generally can be identified by the use of forward-looking words such as 'may', 'should', 'will', 'could', 'intend', 'estimate', 'plan', 'anticipate', 'expect', 'believe', or 'continue', or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements expressed or implied by Wildpack are subject to a number of risks, uncertainties, and conditions, many of which are outside of Wildpack's control, and undue reliance should not be placed on such statements. Although Wildpack has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties related to Wildpack's business, including that Wildpack's assumptions in making forward-looking statements may prove to be incorrect. Except as required by securities law, Wildpack does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise WILDPACK BEVERAGE INC. Per: 'Mitch Barnard' Mitch Barnard Chief Executive Officer and Director For further information, please contact us at: [email protected] Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. SOURCE: Wildpack Beverage Inc. press release
Yahoo
01-07-2025
- Business
- Yahoo
Atrium Mortgage Investment Corporation Announces Termination of Public Offering of Debentures
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Toronto, Ontario--(Newsfile Corp. - June 30, 2025) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: (TSX: (TSX: ("Atrium") today announced the termination of its bought deal offering of 6.00% convertible unsecured subordinated debentures of Atrium due September 30, 2032. The termination results from the additional time needed by Atrium's former auditor to complete further remediation procedures identified by the Canadian Public Accountability Board ("CPAB") over and above the initial remediation procedures previously performed. More specifically, additional remediation procedures are needed on the audit procedures the former auditor performed on the disclosure of the staging of Atrium's mortgage receivables and allowance for mortgage losses in 2023 and 2024. The foregoing has resulted in the opinions of the former auditor on Atrium's annual financial statements as at, and for the years ended, December 31, 2023 and 2024 being insufficiently supported in these areas. Atrium will provide assistance where needed and expects that all areas of concerns will be satisfactorily addressed. No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities that were being offered have not been, and were not to be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not have been offered or sold in the United States unless an exemption from registration was available. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Atrium in any jurisdiction. About Atrium Canada's Premier Non-Bank Lender™ Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters. Atrium is a Mortgage Investment Corporation (MIC) as defined in the Income Tax Act (Canada), so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information, please refer to regulatory filings available at or Atrium's website at Forward-Looking Statements This news release contains forward-looking statements. Much of this information can be identified by words such as "expect to," "expected," "will," "estimated" or similar expressions suggesting future outcomes or events and includes the expected satisfactory resolution of all areas of concern identified by CPAB with the audits performed by Atrium's former auditor. Atrium believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are not limited to, risks associated with the ability of Atrium's former auditor to satisfy all areas of concern identified by CPAB with its audits of Atrium's financial statements and the risks related to Atrium's business, including those identified in Atrium's annual information form for the year ended December 31, 2024 under the heading "Risk Factors" (a copy of which may be obtained at Forward-looking statements contained in this news release are made as of the date hereof and are subject to change. All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, Atrium undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. For further information, please contact Robert G. Goodall Chief Executive Officer Gigi WongChief Financial Officer (416) 867-1053info@ To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
