Business
ODD BURGER ANNOUNCES PRIVATE PLACEMENT OF UP TO CAD$1.5 MILLION OF CONVERTIBLE DEBENTURES
ODD BURGER ANNOUNCES PRIVATE PLACEMENT OF UP TO CAD$1.5 MILLION OF CONVERTIBLE DEBENTURES ...
About this update from Odd Burger Corporation
[{"type":"text","content":"\n \n \n \n ODD BURGER ANNOUNCES PRIVATE PLACEMENT OF UP TO CAD$1.5 MILLION OF CONVERTIBLE DEBENTURES\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n . FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF\n \n UNITED STATES\n \n SECURITIES LAW/\n \n \n \n \n \n LONDON, ON\n \n \n ,\n \n \n June 2, 2023\n \n \n /CNW/ - Odd Burger Corporation (TSXV: ODD) (OTCQB: ODDAF) (FSE: IA9) (\"Odd Burger\" or the \"Company\") is pleased to announce that it intends to complete a proposed non-brokered private placement (the ‎‎\"Offering\") ‎up to 1,500 unsecured convertible debentures (the \"Convertible Debentures\") at a ‎price ‎of\n \n $1,000.00\n \n per Convertible Debenture, for aggregate gross proceeds of up to ‎‎‎$1,500,000.00.\n \n \n \n \n \n \n \n \n \n Each Convertible Debenture shall mature on the date which is 12 months from the closing of the ‎Offering (the \"Maturity Date\") and will be convertible into common shares of the Company ‎‎(\"Common Shares\") at a ‎conversion price of\n \n $0.25\n \n per Common Share (the ‎‎\"Conversion Price\"). The Convertible Debentures will accrue interest from the closing date at a rate of 10% per annum which shall be payable on the Maturity Date.\n \n \n The Company may force the conversion of the Convertible Debentures in the event (i) the volume ‎weighted average price of the ‎Common Shares on the TSX Venture Exchange (the \"TSXV\") is ‎greater ‎‎than\n \n $0.50\n \n for any twenty (20) ‎consecutive trading days‎, and (ii) the ‎Company is current with its securities and TSXV filing requirements. The Offering is non-brokered but the Company may pay a cash commission of 7% on funds brought in.\n \n \n The approval of the Offering will be subject to acceptance by the TSX Venture Exchange. The net proceeds of the Offering will be used by the Company to continue to grow its fr...