Business
Beckett's Secures US$500,000 in Convertible Debenture Financing and Files 2025 Fiscal Year-End Results
Toronto, Ontario and Los Angeles, California--(Newsfile Corp. - May 1, 2026) - Beckett's Inc. (CSE: BKTS) ("Beckett's" or the "Company") announces that it intends to complete a secured debt financing raising gross proceeds of US$500,000 by way of issuance of 5-Year 8% Secured Convertible Debentures (the "Debentures"). The principal amount of the Debentures will bear interest at a rate of 8% per annum and will have a term of five (5) years. Subject to regulatory approval, interest on the...
About this update from Beckett's Inc.
[{"type":"text","content":"Toronto, Ontario and Los Angeles, California--(Newsfile Corp. - May 1, 2026) - Beckett's Inc. (CSE: BKTS) ("Beckett's" or the "Company") announces that it intends to complete a secured debt financing raising gross proceeds of US$500,000 by way of issuance of 5-Year 8% Secured Convertible Debentures (the "Debentures").","length":357,"tagName":"p"},{"type":"text","content":"The principal amount of the Debentures will bear interest at a rate of 8% per annum and will have a term of five (5) years. Subject to regulatory approval, interest on the principal amount outstanding shall be paid annually in common shares of the Company ("Common Shares") at a deemed issue price equal to the lowest price permissible by the rules and policies of the CSE. At the option of the holder, the principal amount of the Debentures may be converted into Common Shares at a conversion price of CA$0.025 per Common Share (the "Conversion Price"), subject to customary adjustments. Notwithstanding the foregoing, the holders of Debentures are prohibited from converting until the Company has completed a share consolidation such that the post-consolidation conversion price is CA$0.05 or higher. The Company intends to ask shareholders to approve a share consolidation at the next annual meeting of shareholders.","length":939,"tagName":"p"},{"type":"text","content":"The principal amount of the Debentures shall convert automatically into common shares at the Conversion Price if the 20-day volume weighted average trading price of the Common Shares is CA$0.05 or higher (subject to adjustment upon completion of a share consolidation).","length":269,"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. "This raise enables us to exceed current direct-to-consumer and retailer demand as we work to expand our distribution footprint," said Beckett's CEO Larry Weintraub. "We look forward to achieving growth in the quarters ahead," he added.","length":468,"tagName":"p"},{"type":"text","content":"The financing is being conducted on a non-brokered basis and may be completed in one or more tranches. The Compan...