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Sharp Therapeutics Announces Closing of Second Tranche of Unsecured Convertible Note Offering
Pittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - March 13, 2026) - Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) ("Sharp" or the "Company") is pleased to announce that it has closed the second tranche (the "Second Tranche") of its previously announced non-brokered private placement for unsecured convertible notes of the Company (collectively, the "Notes"), in the principal amount of US$1,000 per Note (the "Note Offering"). Pursuant to completing the Second Tranche, the...
About this update from Sharp Corporation
[{"type":"text","content":"Pittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - March 13, 2026) - Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) ("Sharp" or the "Company") is pleased to announce that it has closed the second tranche (the "Second Tranche") of its previously announced non-brokered private placement for unsecured convertible notes of the Company (collectively, the "Notes"), in the principal amount of US$1,000 per Note (the "Note Offering"). Pursuant to completing the Second Tranche, the Company issued a total of 200 Notes for aggregate gross proceeds of approximately US$200,000. With the closing of the Second Tranche, the outstanding amount committed to the Company pursuant to the Note Offering is now 600 Notes for aggregate gross proceeds of approximately US$600,000, which are to be issued in three subsequent tranches on or about March 27, 2026, April 10, 2026, and April 24, 2026 (each, a "Closing Date"). The net proceeds of the Note Offering will be used for general working capital purposes.","length":1073,"tagName":"p"},{"type":"text","content":"Each Note shall be convertible at the option of the holder into common shares in the capital of the Company (each, a "Conversion Share") at a conversion price of US$2.00 per Conversion Share (the "Conversion Price"), at any time prior to the date that is twelve (12) months following the applicable Closing Date (the "Maturity Date").","length":364,"tagName":"p"},{"type":"text","content":"Each Note shall bear interest at a rate of six percent (6.0%) per annum, calculated as simple interest accrued monthly in arrears. Interest on the principal amount outstanding under each Note shall accrue during the period commencing on the applicable Closing Date and shall be payable by the Company in cash on the Maturity Date.","length":330,"tagName":"p"},{"type":"text","content":"STX Partners, LLC ("STX") participated in the Second Tranche and is an insider of the Company. STX subscribed for a total of 200 Notes, for a total purchase price of $200,000. The participation of the Insider in the Second Tranche constitutes a related-party transaction for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The Company is exempt from the requ...