Business
Metaguest.AI Announces Financing Progress and Terms Revision to Convertible Loan
Toronto, Ontario--(Newsfile Corp. - May 14, 2025) - Metaguest.AI Incorporated (CSE: METG) ("Metaguest" or the "Company"), the leading innovator of AI-driven concierge services, is pleased to announce the closing of the first tranche of its previously announced secured loan offering, alongside amendments to an existing secured convertible loan.Closing of First Tranche of Secured DebenturesThe Company has successfully closed the first tranche of its secured debentures, raising gross proceeds of $1
About this update from Metaguest.ai Incorporated
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 14, 2025) - Metaguest.AI Incorporated (CSE: METG) ("Metaguest" or the "Company"), the leading innovator of AI-driven concierge services, is pleased to announce the closing of the first tranche of its previously announced secured loan offering, alongside amendments to an existing secured convertible loan.","length":365,"tagName":"p"},{"type":"text","content":"Closing of First Tranche of Secured Debentures","length":46,"tagName":"p"},{"type":"text","content":"The Company has successfully closed the first tranche of its secured debentures, raising gross proceeds of $193,000. The debentures bear interest at 12% per annum and include a 12% loan advance fee, payable in 231,600 Class A Common Shares of METG at a price of $0.10 per share.","length":278,"tagName":"p"},{"type":"text","content":"These debentures will be secured by a general security agreement over the Company's assets and will rank pari passu with the Company's existing secured convertible loan who's details of amendment are outlined below.","length":227,"tagName":"p"},{"type":"text","content":"Amendment to Existing Convertible Loan","length":38,"tagName":"p"},{"type":"text","content":"The Company has also amended the terms of the original $235,000 secured convertible loan that was closed on February 6, 2024, and announced on February 8, 2024 (the "Convertible Loan").","length":195,"tagName":"p"},{"type":"text","content":"The amendments include:","length":23,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"An extension of the maturity date of the Convertible Loan to May 14, 2026","length":73,"tagName":"p"}]},{"val":[{"type":"text","content":"A revision to the principal amount from $235,000 to $270,674","length":60,"tagName":"p"}]},{"val":[{"type":"text","content":"A 12% amendment fee, payable by issuing 324,716 Class A Common Shares at $0.10 per share, and","length":93,"tagName":"p"}]},{"val":[{"type":"text","content":"Participation in the first-ranking security, also for a 12% fee, payable by issuing 324,716 $0.10 Class A Common Shares","length":119,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":345,"olType":false},{"type":"text","content":"All other terms of the Convertible Loan remain unchanged.","length":57,"tagName":"p"},{"type":"text","content":"Th...