Convertible Debenture Financing
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Prostar Announces Upsizing of Convertible Debenture Financing
Globenewswire· 2026-01-28 23:15
Core Viewpoint - ProStar Holdings Inc. has increased its non-brokered private placement of secured convertible debentures from US$500,000 to US$675,000, aimed at supporting its operations and growth initiatives [1][6]. Group 1: Offering Details - The convertible debentures will carry an interest rate of 12.5% per annum and will mature 24 months after issuance [2]. - Each debenture can be converted into units at a price of US$0.10 per unit, with each unit consisting of one common share and one-half of a common share purchase warrant [2][3]. - The full warrant allows the holder to purchase one common share at US$0.14 for five years from the closing date of the offering [3]. Group 2: Trigger Events and Conversion - The principal amount of the convertible debentures will automatically convert into units if the company achieves US$2,000,000 in booked Annual Recurring Revenue (ARR) in 2026 or US$2,500,000 in ARR in 2027 [4]. - Upon conversion or maturity, the company can settle accrued interest in cash or through the issuance of common shares, subject to TSX Venture Exchange approval [5]. Group 3: Security and Use of Proceeds - The convertible debentures will be secured by a first-ranking security interest over all present and future assets of the company [6]. - The net proceeds from the offering are intended for general corporate purposes [6]. Group 4: Related Party Participation - Certain directors of the company plan to participate in the offering, which is classified as a related party transaction under Multilateral Instrument 61-101 [8]. Group 5: Company Overview - ProStar Geocorp specializes in geospatial intelligence technologies, aiming to set the global standard for mapping and managing critical infrastructure [9]. - The company's flagship products, PointMan and LinQD, enhance the accuracy and efficiency of infrastructure mapping and management [10]. - ProStar has a diverse customer base, including Fortune 500 companies and government entities, and has established strategic alliances with global technology leaders [11].
ProStar Announces Convertible Debenture Financing
Globenewswire· 2026-01-16 13:00
Core Viewpoint - ProStar Holdings Inc. is initiating a non-brokered private placement of secured convertible debentures amounting to up to US$500,000, aimed at enhancing its financial position and supporting corporate purposes [1][6]. Group 1: Offering Details - The convertible debentures will carry an interest rate of 12.5% per annum and will mature 24 months after issuance [2]. - Each debenture can be converted into units at a price of US$0.10 per unit, with each unit consisting of one common share and one-half of a common share purchase warrant [2][3]. - The full warrant allows the purchase of one common share at US$0.14 for five years from the closing date of the offering [3]. Group 2: Trigger Events and Conversion - The principal amount of the convertible debentures will automatically convert into units if the company achieves US$2,000,000 in booked Annual Recurring Revenue (ARR) in 2026 or US$2,500,000 in ARR in 2027 [4]. - Upon conversion or maturity, the company may settle accrued interest in cash or common shares, subject to TSX Venture Exchange approval [5]. Group 3: Security and Use of Proceeds - The convertible debentures will be secured by a first-ranking security interest over all present and after-acquired property and assets of the company [6]. - Proceeds from the offering are intended for general corporate purposes [6]. Group 4: Related Party Transaction - A director of the company plans to participate fully in the offering, which is classified as a related party transaction under Multilateral Instrument 61-101 [8]. Group 5: Company Overview - ProStar Geocorp specializes in geospatial intelligence technologies, aiming to set a global standard for mapping and managing critical infrastructure [9]. - The company offers a Software-as-a-Service (SaaS) solution and an enterprise integration platform, enhancing the management of critical infrastructure assets [10]. - ProStar's customer base includes Fortune 500 companies, construction firms, utilities, and government departments, supported by strategic alliances with global technology leaders [11].
Norsemont Announces First Tranche Closing of Convertible Debenture Financing
Thenewswire· 2025-12-22 01:10
Core Viewpoint - Norsemont Mining Inc. has successfully closed the first tranche of its non-brokered private placement, raising US$7,529,000 (approximately CAD$10,375,715) through the issuance of unsecured convertible debenture units and warrants, which will support its upcoming drill program and production strategy for the Choquelimpie project [1][2]. Financing Details - The first tranche of the Offering involved the issuance of US$7,529,000 in principal amount of Convertible Debentures and 6,035,258 Warrants, resulting in total gross proceeds of US$7,529,000 (approximately CAD$10,375,715) [1]. - The terms of the Offering have been amended to allow for gross proceeds of up to US$10,000,000 (approximately CAD$13,794,400), with a 30% over-allotment option [2]. Use of Proceeds - Proceeds from the Offering are intended for general working capital, mineral exploration, and advancing the Choquelimpie gold-silver-copper project [3]. Convertible Debenture Unit Structure - Each Convertible Debenture Unit consists of one convertible debenture with a principal amount of US$1,000, convertible into common shares at a price of CAD$0.86, and includes 802 transferable common share purchase warrants, each allowing the purchase of one common share at CAD$1.00 for three years [4]. - The Convertible Debentures carry an interest rate of 5.25% per annum and have a maturity date of three years from the closing date [4]. Project Overview - Norsemont Mining owns a 100% interest in the Choquelimpie project, which has an indicated mineral resource estimate of 1,731,000 gold ounces and 33,233,000 silver ounces, along with an inferred mineral resource of 446,000 gold ounces and 7,219,000 silver ounces [10]. - The Choquelimpie project is a past-producing mine with significant existing infrastructure, including roads, power, water, camp, and a 3,000-tonne-per-day mill [10].
Lion Copper and Gold Corp. Closes Oversubscribed US$2.7 Million Convertible Debenture Financing
Newsfile· 2025-11-07 01:44
Core Points - Lion Copper and Gold Corp. has successfully closed a non-brokered private placement of secured convertible debentures, raising gross proceeds of US$2,700,000 [1][2] Group 1: Debenture Financing Details - The debentures carry an interest rate of 12% per annum and will mature 12 months from issuance [2] - The principal amount can be converted into common shares at a price of US$0.0965 per share until November 6, 2026 [2] - The proceeds will be used for purchasing lands and associated mineral rights for projects in the Yerington area, with repayment secured against these assets [2] Group 2: Warrants Issued - For every US$0.0965 of principal amount subscribed, one detachable warrant was issued, totaling 27,979,274 warrants [3] - Each warrant allows the holder to acquire a common share at US$0.0965 until November 6, 2030 [3] Group 3: Related Party Transaction - An insider, Tony Alford, participated in the financing with a principal amount of US$1,400,000, constituting a related party transaction [4] - The company is relying on exemptions from formal valuation requirements as the securities issued do not exceed 25% of its market capitalization [4] Group 4: Shareholding Changes - Prior to the financing, Mr. Alford owned approximately 30.94% of the company's common shares [7] - After the financing, if all securities are exercised or converted, his ownership could increase to approximately 46.36% on a partially diluted basis [8] Group 5: Regulatory Compliance - All securities issued are subject to a four-month statutory hold period, expiring on March 7, 2026 [5] - The securities have not been registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or exemption [6] Group 6: Company Overview - Lion Copper and Gold Corp. is advancing its flagship copper project in Yerington, Nevada, through an agreement with Nuton LLC, a Rio Tinto Venture [11]
SHARC Energy Announces Update on Convertible Debenture Financing
Globenewswire· 2025-08-02 03:00
Group 1 - SHARC International Systems Inc. plans to complete a non-brokered private placement of secured convertible debentures with a principal amount of up to $1,500,000 [1][2] - The debentures will bear an interest rate of 8.0% per annum and will mature 24 months from the issuance date, with an option for holders to extend the maturity by 12 months [2] - The proceeds from the offering will be used for working capital purposes, specifically for the shipment and delivery of SHARC and PIRANHA WET systems [3] Group 2 - The company may pay a finder's fee to eligible arm's length finders in accordance with applicable securities laws [4] - All securities issued will be subject to a statutory hold period of four months and one day following issuance [4] - The current offering replaces a previously announced offering that was cancelled [6] Group 3 - SHARC Energy is a leader in energy recovery from wastewater, providing energy-efficient systems for heating, cooling, and hot water production [7] - The company is publicly traded in Canada, the United States, and Germany [8]