Business
Planet Ventures Closes Oversubscribed $6,400,000 Convertible Debenture Financing
(TheNewswire) Vancouver, BC – August 19, 2025 – TheNewswire - ...
About this update from Planet Ventures Inc
[{"type":"text","content":"Planet Ventures Closes Oversubscribed $6,400,000 Convertible Debenture Financing\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, BC –\nAugust 19, 2025\n \n\n\n –\n \n\n TheNewswire -\n \n\n\n Planet Ventures Inc.\n \n\n\n (CSE:\n \n\n\n PXI\n \n\n\n ; OTC:\n \n\n\n PNXPF\n \n\n\n ; Frankfurt:\n \n\n\n P6U1\n \n\n\n ) (\"\n \n\n\n Planet\nVentures\n \n\n\n \" or the \"\n \n\n\n Company\n \n\n\n \"), an investment issuer focused on investing on\ndisruptive technologies, mining and acquiring Bitcoin, is pleased to\nannounce that it has closed its previously announced convertible\ndebenture (each a “\n \n\n Debenture\n \n\n ”) financing for total gross\nproceeds of $6,400,000 (the “\n \n\n Offering\n \n\n ”).\n \n\n\n\n No commissions were paid in connection with the\nOffering. The gross proceeds raised under the Offering shall be used\nto to further enhance the Company’s Bitcoin treasury strategy and\nfor general corporate and working capital purposes.\n \n\n\n\n The Debentures carry an interest rate of\n \n\n\n 12% per\nannum\n \n\n\n and mature 24 months from the date\nof issuance. At any time during the term of the Debentures, the\nprincipal amount of the Debentures is\n \n\n\n convertible into common shares\n \n\n\n of the\nCompany at a conversion price of\n \n\n\n $0.50 per share, at the election\nof the holders of the Debentures\n \n\n\n . The\nholders of the Debentures have the right to redeem the principal\namount of the Debentures and any interest accrued thereon anytime\nafter 12 months from the date of issuance until the maturity date.\n \n\n\n\n The Debentures will be secured against the assets of\nthe Company in favour of the holders of the Debentures\n \n\n\n\n As of today’s announcement, Planet Ventures holds\n \n\n\n 28.8\nBitcoin\n \n\n\n on its balance sheet and an\nadditional approximately C$18,000,000 in cash/securities.\n \n\n\n\n A company controlled by the Company’s chief executive\nofficer (the “\n \n\n Insider\n \n\n ”), participated in the Offering for\nproceeds of C$3,200,000. The participation by the Insider in the\nOffering constituted a related party transaction within the meaning of\nMultilateral Instrument 61-101 --\n \n\n Protection of Minority Security Holders in\nSpecial Transaction...