Business
Audacious Signs LOI for $20 Million Convertible Bond Funding Commitment
Audacious Signs LOI for $20 Million Convertible Bond Funding Commitment.
About this update from Australis Capital Inc.
[{"type":"text","content":"\n\n\n\nAudacious Signs LOI for $20 Million Convertible Bond Funding Commitment\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nAudacious Signs LOI for $20 Million Convertible Bond Funding Commitment\nCanada NewsWire\nLAS VEGAS, Dec. 9, 2021\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. /\nCLOSES $3.1 MILLION FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT\n LAS VEGAS, Dec. 9, 2021 /CNW/ - Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (\"AUSA\", \"AUDACIOUS\" or the \"Company\") is pleased to announce that it has entered into a term sheet with LDA Capital, LLC (\"LDA\") for committed funding, (the Funding) in tranches, of up to $20 million. Additionally, the Company announced it has closed the first tranche of a non-brokered private placement for proceeds of approximately $3.1 million.\n\n \n \n \n \n \n \n\n \nTerry Booth, CEO, commented, \"We are very pleased with the response to both our private placement and the work done by DelMorgan securing the Funding. The proceeds of the Funding will go predominantly towards growth initiatives, including immediately scaling up our ability to deliver product into the Nevada and California markets where our brands are finding great resonance with consumers. The tranche-based nature of the LDA instrument provides us with the opportunity to withdraw funds at higher valuations as we continue to execute on our business plan. The Funding  will help us accelerate development of the Company, and we look forward to continue to inform the market of our great progress in the near future. I am also pleased and am proud of the significant participation of company insiders, including senior management, board members and employees, reflecting our belief in the upside of the Company.\" \nLDA Funding\nUnder the terms of the agreement with LDA, AUDACIOUS has the right to draw up to $10 million in tranches, with an option to draw down up to $20 million subsequent to completion of the first five tranches of $2 milli...