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Parvis Closes First Tranche of Convertible Debenture Financing and Finalizes Strategic Appointments
Vancouver, British Columbia--(Newsfile Corp. - June 6, 2025) - Parvis Invest Inc. (TSXV: PVIS) ...
About this update from Parvis Invest Inc
[{"type":"text","content":"Parvis Closes First Tranche of Convertible Debenture Financing and Finalizes Strategic AppointmentsVancouver, British Columbia--(Newsfile Corp. - June 6, 2025) - Parvis Invest Inc. (TSXV: PVIS) (\"Parvis\" or the \"Company\"), a technology-enabled platform redefining access to real estate and alternative private market investments, is pleased to announce that, further to its news release dated June 4, 2025, it has completed the first tranche of its previously announced non-brokered private placement offering (the \"Offering\") of unsecured convertible debentures (the \"Debentures\") for aggregate gross proceeds of C$300,000. The closing occurred on June 5, 2025 (the \"Closing Date\").The Debentures issued under the first tranche of the Offering bear interest at a rate of 10% per annum and mature 24 months from the Closing Date, unless earlier converted in accordance with their terms. The Debentures are convertible at the option of holder into common shares of the Company (each, a \"Share\") at a price of $0.06 per Share during the first 12 months following the Closing Date and at a price of C$0.10 per Share thereafter until maturity. All Debentures issued under the first tranche of the Offering, and any Shares issuable upon conversion thereof, are subject to a statutory hold period of four months and one day from the Closing Date, in accordance with applicable securities laws and policies of TSX Venture Exchange (the \"TSXV\").No finders' fees or commissions were paid in connection with the first tranche of the Offering. The net proceeds will be used for general working capital and corporate purposes. In connection with the Offering, the Company has entered into strategic alliance agreements with Bluestar Professional Services Inc. (\"Bluestar\") and Lankin Investment Inc. (\"Lankin\"), affiliates of subscribers under the Offering. As part of these arrangements, Roy Murad (Chairman of Bluestar) and Kyle Pulis (CEO of Lankin) were appointed to the board of directors of the Company following the completion of the first tranche of the Offering and are now considered insiders. Other than these appointments, the Offering does not result in the creation of any new control persons or insiders and does not involve participation by existing insiders of the Company. The TSXV has conditionally approved the first tranche of the Offering, wh...