Sirona Biochem Announces Debenture Financing

Core Points - Sirona Biochem Corp. is conducting a non-brokered private placement offering of unsecured, convertible debentures with a total gross proceeds of up to $400,000 [1] - The offering will consist of Debenture Units priced at $1,000 each, with a face value of $1,120, including $1,000 principal and $120 prepaid interest [2] - The principal will accrue interest at a rate of 12% per annum, paid semi-annually, and can be converted into shares at a specified conversion price [2][3] - Each Unit from the offering will include one share and one non-transferable share purchase warrant, exercisable at $0.15 [4] - The company has the right to redeem the debentures after six months, with a redemption penalty of 8% of the face value [5] - The offering is subject to regulatory approvals and will have a four-month hold period under applicable securities laws [6] - Related parties may participate in the offering, which will be considered related party transactions [7] Company Overview - Sirona Biochem is focused on cosmetic ingredients and drug discovery, utilizing proprietary technology to stabilize carbohydrate molecules [10] - The company licenses its compounds to leading global companies, generating revenue through licensing fees, milestone fees, and ongoing royalties [11]