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Rakovina Therapeutics Announces Corporate Update Including up to $1.5 Million in New Financing, Leadership Appointments and Debt Restructuring
Globenewswire· 2026-01-27 20:49
Core Viewpoint - Rakovina Therapeutics Inc. is undergoing significant corporate updates, including leadership changes, debt restructuring, and financing initiatives to strengthen governance and enhance capital markets execution [1]. Debt Restructuring - The maturity date of the 12.0% convertible debentures, totaling $1,454,000, has been extended from January 28, 2026, to March 11, 2026, with consent from holders representing at least 66 2/3% of the outstanding principal [2][3]. - The company plans to restructure the outstanding 2023 Debentures, offering holders the option to convert their debentures into new Replacement Debentures or settle through a shares-for-debt conversion at $0.12 per share [4][5]. - An agreement in principle has been reached with an existing investor for an additional $1.0 million investment through a private placement of unsecured convertible debentures [7]. Financing Initiatives - The company proposes a concurrent private placement of up to 5,000,000 common shares at $0.12 per share, aiming for additional gross proceeds of up to $500,000 [9]. - The proceeds from the private placements will be used for near-term working capital to support ongoing corporate activities and strategic initiatives [10]. Leadership Changes - Kim Oishi has been appointed as the new Chief Executive Officer and will also join the Board of Directors, bringing extensive experience in public company leadership and capital markets strategy [11][12]. - Frank Holler has been appointed as an independent director, contributing significant expertise in life sciences and governance [16][18][21]. - Jeffrey Bacha will continue as the non-executive Chair of the Board, ensuring continuity and strategic oversight [13][15]. Board Composition - Dr. Dennis Brown has stepped down from the Board but will continue as Chair of the Scientific Advisory Committee, while Al DeLucrezia has also stepped down but will remain as an advisor [23][24]. - The Board's recent changes are aimed at enhancing governance and supporting the company's strategic initiatives in oncology [25][26]. Company Overview - Rakovina Therapeutics is focused on developing innovative cancer treatments that target the DNA damage response, utilizing advanced computational chemistry and AI-enabled drug discovery platforms [27].
Denarius Metals Announces Details for the September 30, 2025 Interest Payments on Its Convertible Unsecured Debentures
Newsfile· 2025-09-26 11:00
Core Viewpoint - Denarius Metals Corp. announced details regarding the interest payments due on its convertible unsecured debentures on September 30, 2025, which will be settled with shares issued to debenture holders on October 1, 2025 [1][2]. Group 1: Interest Payments and Debentures - The total principal amount of the 2023 Debentures is CA$19,886,560, with a total interest payment resulting in the issuance of 198,866,310 shares at a rate of 0.015625 shares per CA$1.00 of principal [2]. - The total principal amount of the 2024 Debentures is CA$14,287,314, with a total interest payment resulting in the issuance of 142,723,223 shares at the same rate of 0.015625 shares per CA$1.00 of principal [2]. - The overall total for both debentures amounts to CA$34,158,874, leading to the issuance of 341,589,533 shares [2]. Group 2: Company Operations - Denarius Metals is a Canadian junior company focused on the acquisition, exploration, development, and operation of precious metals and polymetallic mining projects in Colombia and Spain [8]. - The company commenced mining operations at its 100%-owned Zancudo Project in Colombia in Q2 2025, which is a high-grade gold-silver deposit [9]. - In Spain, Denarius Metals has interests in three projects, including a 21% stake in Rio Narcea Recursos, S.L., and operates the Aguablanca Project, recognized as a Strategic Project by the EU [10].