
Core Viewpoint - Jeffs' Brands Ltd announced that its subsidiary Fort Technology Inc. has entered into a private placement of convertible debentures for gross proceeds of up to CAD 5 million, with a valuation of approximately CAD 27 million for Fort [1][2]. Group 1: Private Placement Details - The private placement involves convertible debentures that will mature in 2 years and bear an interest rate of 10% per annum, payable quarterly [1]. - The principal amount of the convertible debentures can be converted into units of Fort at a price of CAD 0.185 per unit, with each unit consisting of one common share and one warrant [1]. - The company participated in the private placement by purchasing CAD 2.2 million worth of convertible debentures, constituting a related-party transaction [3]. Group 2: Use of Proceeds and Loan Agreement - The net proceeds from the private placement will be used for general working capital requirements and to extend a loan under a separate loan agreement [2]. - Fort has entered into a loan agreement with EEH Ventures Limited, advancing an initial loan of £2 million, with an additional £1 million available at EEH's request [5]. - The loan amounts bear interest at a rate of 7.5% per annum and are repayable within three years, with an option for Fort to convert the loan into up to 25% of EEH's share capital [5]. Group 3: Company Background - Jeffs' Brands aims to transform e-commerce by creating and acquiring products to become market leaders, leveraging advanced technology and insights into the Amazon FBA business model [6]. - Fort Technology Inc. specializes in manufacturing and selling products for the pest control and remedial repair industry [7].