Business
Hemostemix Announces Lead Order of $1,500,000 and the Full Repayment of $2,500,000 Convertible Debenture
Calgary, Alberta--(Newsfile Corp. - June 26, 2025) - Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (...
About this update from Hemostemix Inc
[{"type":"text","content":"Hemostemix Announces Lead Order of $1,500,000 and the Full Repayment of $2,500,000 Convertible DebentureCalgary, Alberta--(Newsfile Corp. - June 26, 2025) - Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (FSE: 2VF0) (\"Hemostemix\" or the \"Company\") announces its Chairman, Peter Lacey, has provided the Company with a lead order for a non brokered private placement in the amount of $1,500,000 for Units at $0.10. Each Unit will consist of one Common Share and one Warrant. Each Warrant may be exercised by the holder to acquire one Common Share at $0.15 for a period of two years from the Closing Date. $1,250,000 of the $1,500,000 will be used to repay 100% of a Convertible Debenture in the amount of $2,500,000. The Closing of the lead order will take place as a first tranche of a total placement of up to $2,500,000 for Units at $0.10. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. Certain directors of the Company are participating in the Offering, which constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") and the policies of the TSXV. The Company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(b) and 5.7(1)(a), respectively, of MI 61-101 on the basis that the Company is not listed on a specified stock exchange and, at the time the Offering was agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction insofar as it involves an interested party (within the meaning of MI 61-101) in the Offering, exceeds 25% of the Company's market capitalization calculated in accordance with MI 61-101.Per Policy 4.1.Further to the March 5, 2025 news release announcing the sale of 15 ACP-01 Therapy Convertible Debentures (TCD) for proceeds of $708,605 (USD $517,230) subject to the approval of the TSXV Exchange, the Company confirms that the conversion price of each TCD is at CAD $0.155.The Company confirms that there is no material fact or materia...