Business
Promino Announces Secured Convertible Debenture Offering for Proceeds of up to $1 Million
Burlington, Ontario--(Newsfile Corp. - December 9, 2025) - Promino Nutritional Sciences Inc. (CSE: MUSL) (OTC: MUSLF) (FSE: 93X) ("Promino" or the "Company") announces it intends to complete a non-brokered private placement of secured convertible debentures (the "Convertible Debentures") of the Company for an aggregate principal amount of up to $1 million (the "Offering"). The Company may increase the size of the Offering by up to an additional $500,000 of Convertible Debentures for aggregate...
About this update from Promino Nutritional Sciences Inc
[{"type":"text","content":"Burlington, Ontario--(Newsfile Corp. - December 9, 2025) - Promino Nutritional Sciences Inc. (CSE: MUSL) (OTC: MUSLF) (FSE: 93X) ("Promino" or the "Company") announces it intends to complete a non-brokered private placement of secured convertible debentures (the "Convertible Debentures") of the Company for an aggregate principal amount of up to $1 million (the "Offering"). The Company may increase the size of the Offering by up to an additional $500,000 of Convertible Debentures for aggregate gross proceeds of up to $1,500,000.","length":573,"tagName":"p"},{"type":"text","content":"Vito Sanzone, Chief Executive Officer of Promino, commented, "With Promino's recent resumption of trading, we are pleased to see strong and ongoing investor support. This debt financing will play a key role in building the inventory needed to drive our 2026 growth plans."","length":286,"tagName":"p"},{"type":"text","content":"Each Convertible Debenture will consist of a $1,000 principal amount and be secured against Promino's present and after-acquired inventory. The Convertible Debentures will bear interest at a rate of 15% per annum, payable quarterly in, at the election of Promino, cash or common shares of the Company ("Shares") at a conversion price of the greater of (i) $0.05 and (ii) the five-day VWAP of the Shares prior to the interest payment date. The principal amount outstanding under the Convertible Debentures will be, at the election of Promino, payable in cash or convertible into Shares at a conversion price of $0.05 per Share on maturity three (3) years from the date of issuance (the "Maturity Date"). Promino may also elect to repay the principal amount of the Convertible Debentures in cash, in whole or in part, at any time prior to the Maturity Date. The Convertible Debentures shall be convertible at the option of the holder, in whole or in part, and at any time prior to the Maturity Date, into Shares at a conversion price of $0.05 per Share. The Offering is subject to the approval of the Canadian Securities Exchange ("CSE").","length":1170,"tagName":"p"},{"type":"text","content":"The Convertible Debentures and the Shares issuable upon conversion of the Convertible Debentures or any interest thereon will be subject to a four month and one day statuto...