Jeffs’ Brands: Fort Technology Announces Closing of a CAD 5 Million Private Placement of Convertible Debenture Representing a Valuation of Approximately CAD 27 million

Core Viewpoint - Jeffs' Brands Ltd has announced the completion of a private placement of convertible debentures by its subsidiary Fort Technology Inc, raising CAD 5 million, which will be used for working capital and loan support [1][5]. Group 1: Private Placement Details - The private placement of convertible debentures has a maturity date of two years from issuance and carries an interest rate of 10% per annum, with quarterly payments starting from the closing date until September 30, 2025 [2]. - 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 [2]. - The private placement values Fort at approximately CAD 27 million [2]. Group 2: Company Participation and Compliance - Jeffs' Brands and its CEO participated in the private placement, with the company purchasing CAD 2.2 million worth of convertible debentures, qualifying it as a related-party transaction [4]. - The private placement was conducted under certain prospectus exemptions and is subject to a holding period in compliance with applicable securities laws and TSX Venture Exchange rules [3]. 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].