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Breaking Data Corp. announces closing of convertible debenture financing
Breaking Data Corp. announces closing of convertible debenture financing Breaking ...
About this update from Bragg Gaming Group Inc.
[{"type":"text","content":"\n\n\n\nBreaking Data Corp. announces closing of convertible debenture financing\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\n\n\n\n\n\nBreaking Data Corp. announces closing of convertible debenture financing\nCanada NewsWire\nTORONTO, Jan. 19, 2016\n\n\n\nTORONTO, Jan. 19, 2016 /CNW/ - Breaking Data Corp. (TSX VENTURE: BKD) (the \"Company\") announces that it has closed a $500,000 principal amount secured convertible debenture financing, and the lender has made a further $500,000 available for drawdown under the convertible debenture, at the Company's option, during the term of the convertible debenture. The key terms of the convertible debenture are as follows: one year term; interest of 8% per annum; secured against the assets of the Company; and, convertible into units of the Company at a conversion price of $0.35 per unit, with each unit comprised of one common share and one-half of one warrant, with each full warrant exercisable into a common share at an exercise price of $0.50 per share for a period of 12 months from conversion of the debenture.  The lender has been paid a set-up fee of 5% of the facility made available to the Company.\n\nAll securities issued pursuant to the financing are subject to a four month hold period.\n\nAbout Breaking Data Corp.\n\nBreaking Data Corp. is a technology provider of semantic search, machine learning and natural language processing (\"NLP\").  The Company's newest app, BreakingSports, utilizes semantic machine learning and NLP to track social media in a fully automated, real-time manner for significant sports information and events and distributes summarized information through real-time push notifications to consumers.  The Company also enables mobile application providers to generate revenue into their apps via its \"Poynt-Enabled\" SDK and owns Poynt, a local mobile search app. Find out more at breakingdatacorp.com.\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this rele...