Business
Beckett's Closes US$500,000 5-Year 8% Convertible Debenture Financing
Toronto, Ontario and Los Angeles, California--(Newsfile Corp. - May 11, 2026) - Beckett's Inc. (CSE: BKTS) ("Beckett's" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement of 5-year 8% secured convertible debentures of the Company (the "Debentures") for aggregate gross proceeds of US$500,000 (the "Financing"). No finder's fees, commissions or other compensation were paid in connection with the Financing. The Company intends to use..
About this update from Beckett's Inc.
[{"type":"text","content":"Toronto, Ontario and Los Angeles, California--(Newsfile Corp. - May 11, 2026) - Beckett's Inc. (CSE: BKTS) ("Beckett's" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement of 5-year 8% secured convertible debentures of the Company (the "Debentures") for aggregate gross proceeds of US$500,000 (the "Financing"). No finder's fees, commissions or other compensation were paid in connection with the Financing.","length":523,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds from the Financing for general working capital purposes, including inventory production and marketing initiatives to support its sales and distribution activities.","length":207,"tagName":"p"},{"type":"text","content":""This financing provides Beckett's with additional working capital flexibility as we continue to support retailer demand and advance our distribution growth initiatives," said Larry Weintraub, Chief Executive Officer of Beckett's. "We appreciate the continued support of our investors as we execute on our strategy and build momentum for the Beckett's brand."","length":391,"tagName":"p"},{"type":"text","content":"The Debentures bear simple interest at 8% per annum and mature five (5) years from the date of issuance. Subject to applicable securities laws and the approval of the Canadian Securities Exchange (the "CSE"), interest is payable annually in arrears in common shares of the Company ("Common Shares") at a deemed price equal to the lowest price then permissible under CSE policies, without discount or, if the Company is unable to issue Common Shares to satisfy an interest payment, the unpaid interest will accrue and be added to the outstanding principal balance, or the Company may elect to pay it in cash. The outstanding principal balance, together with all accrued and unpaid interest, is payable in cash at maturity unless earlier converted.","length":766,"tagName":"p"},{"type":"text","content":"At the option of the holder, the entire (but not part of the) outstanding principal balance of a Debenture may be converted into Common Shares at a conversion price of CA$0.025 per Common Share (the "Conversion Price"), as adjusted in accordance wit...