Business
CANADABIS ANNOUNCES CLOSING OF FIRST TRANCHE OF FINANCING FOR $2.6 MILLION
CANADABIS ANNOUNCES CLOSING OF FIRST TRANCHE OF FINANCING FOR $2.6 MILLION Canada NewsW...
About this update from Canadabis Capital, Inc.
[{"type":"text","content":"\n\n\n\n CANADABIS ANNOUNCES CLOSING OF FIRST TRANCHE OF FINANCING FOR $2.6 MILLION\n \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\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n\n\n\n CALGARY, AB\n \n\n ,\n \n\n April 2, 2025\n \n\n /CNW/ - CanadaBis Capital Inc. (\"\n \n CanadaBis\n \n \") (TSXV: CANB) is pleased to announce that it has closed the first tranche of the previously announced brokered private placement of 11% unsecured convertible debentures (the \"\n \n Debentures\n \n \") at a price of\n \n $1,000\n \n per Debenture (the \"\n \n Financing\n \n \"). Closing of the first tranche consisted of the issuance of 2,620 Debentures for aggregate gross proceeds of\n \n $2,620,000\n \n .\n \n\n\n\n\n\n\n\n\n Research Capital Corporation is acting as the sole agent and sole bookrunner in connection with the Financing (the \"\n \n Agent\n \n \").\n \n\n The Debentures bear interest at a rate of 11.0% per annum from the date of issue, payable quarterly in arrears. Interest shall be paid in cash or common shares of the Company (\"\n \n Common Shares\n \n \") at the Company's sole discretion, subject to Exchange approval. The Debentures will mature on\n \n April 2, 2029\n \n (\"\n \n Maturity Date\n \n \").\n \n\n The principal amount of each Debenture shall be convertible, at the option of the holder, for no additional consideration, into Common Shares, following\n \n August 3, 2025\n \n , and prior to the Maturity Date at a Conversion Price equal to\n \n $0.10\n \n per Common Share (the \"\n \n Conversion Price\n \n \"), subject to customary adjustments. The Debentures will be repaid in cash at the Maturity Date.\n \n\n On and following the date that is five (5) months from the date of issuance of the Debentures, CanadaBis shall have the right to either partially or fully redeem the outstanding Debentures in cash at 105% of the outstanding principal amount of the Debenture at the time of redemption, plus accrued interest in cash, provided, how...