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Search Minerals Announces Convertible Loan and Convertible Loan for Debt Conversion Transactions
Newsfile· 2025-09-17 13:15
Core Viewpoint - Search Minerals Inc. has announced a $3,000,000 unsecured convertible revolving loan from Petra Holdings Company Inc. to support the development of its mining projects and improve its financial structure [1][2][3]. Financing Details - The loan proceeds will be allocated for the development of the Foxtrot and Deep Fox mining projects, including equipment acquisition, site operations, infrastructure, technical assessments, environmental compliance, and general working capital [2]. - The loan will bear an interest rate of 15% per annum, payable quarterly, and the principal amount is due three years from the initial drawdown [4]. - The loan is convertible into common shares at a price of $0.50 per share for the first year, with subsequent conversions based on the average closing price on the TSX Venture Exchange [5]. Corporate Governance and Information Rights - Petra will have the right to nominate a director to the Company’s board as long as it holds at least 5% of the outstanding shares or has $500,000 principal amount outstanding under the loan [6]. - The Company is required to provide Petra with copies of all continuous disclosure documents filed on SEDAR+ [7]. Conditions Precedent - The closing of the loan is contingent upon the execution of a definitive loan agreement, approval from the Company’s Board of Directors, and approval from the TSX Venture Exchange [8]. Additional Debt Conversion - Search Minerals has also entered into an agreement with LeadFX Inc. to convert $404,053.73 of debt into a fixed-term unsecured convertible loan to assist in reorganizing its debt structure [9][10]. - Similar to the Petra loan, the LeadFX Loan will bear a 15% interest rate and is convertible into common shares at a price of $0.50 per share for the first year [11][12]. Company Overview - Search Minerals focuses on exploring and developing Critical Rare Earth Elements (CREE) and transition metals in the Port Hope Simpson - St. Lewis CREE District of South-East Labrador, controlling two primary deposits and several other prospects [14][15].
Anoto Group AB enters into USD 400,000 bridge loan agreement to accelerate growth of the INQ brand
GlobeNewswire News Room· 2025-08-21 06:00
Core Viewpoint - Anoto Group AB has secured a bridge loan of USD 400,000 from Achilles Capital AB to support working capital and accelerate the global expansion of its inq smartpen brand following a successful market release [1][3]. Financing Details - The bridge loan is structured as a promissory note that may convert into a convertible loan if Anoto secures at least USD 600,000 in new financing by September 14, 2025 [2]. - The loan carries an annual interest rate of 8%, accruing from the disbursement date until repayment or conversion [2]. - If the financing is not secured, the principal and interest will become immediately due [2]. Growth Strategy - The bridge loan is part of a structured financing roadmap aimed at supporting Anoto's near-term growth and broader funding initiatives [3]. - The funds will facilitate rapid scaling of production, distribution, and marketing for the inq smartpen line, which has garnered strong customer feedback [3]. - The CEO of Anoto highlighted the positive market reception of the inq brand, indicating a significant growth opportunity for the company [3]. Company Overview - Anoto Group AB is a publicly held Swedish technology company known for its digital pen and dot pattern technology [5]. - The company develops intelligent pens, paper, and software that connect handwritten input with the digital world, serving students, professionals, and organizations globally [5]. - Anoto focuses on high-quality design, software innovation, and customer experience to drive the next generation of digital writing [5].
Anoto Group AB has entered into a Convertible Loan Agreement to raise USD 750,000.
Globenewswire· 2025-04-29 06:30
Group 1 - Anoto Group AB has entered into a convertible loan agreement with two major shareholders, securing a loan of USD 750,000 to support the launch and marketing of its new digital pen and software platform "INQ" [1][2] - The loan will be repaid in twelve equal monthly installments starting from October 22, 2025, with a final maturity date of October 22, 2026, and will accrue interest at a rate of 10.00% per annum [1][3] - Lenders have the right to convert the loan amount, including accrued interest, into ordinary shares at a fixed conversion price of SEK 0.15 per share, which is a 66.67% premium to quota value [2][3] Group 2 - The loan is secured by a first-ranking floating charge of SEK 20 million over Anoto AB's assets and a share pledge over its shares in KAIT Knowledge AI Holdings Pte. Ltd. [3] - Anoto Group AB is a publicly held Swedish technology company known for its digital pen and dot pattern technology, focusing on intelligent pens, paper, and software that connect handwritten input to the digital world [5] - The company's core business includes 'inq' and 'Livescribe' retail products, as well as enterprise workflow solutions, aimed at enhancing productivity and creativity for users globally [5]