Business
Solution Financieal Announces Unsecured Convertible Debenture Financing
(via TheNewswire) NOT FOR DIS T R IBUTION TO U.S. NE W S W I R E SERV...
About this update from Solution Financial Inc.
[{"type":"text","content":"Solution Financieal Announces Unsecured Convertible Debenture Financing(via TheNewswire)\n\n \nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n\n\n \nVancouver, B.C. / TheNewswire / April 9, 2019 - Solution Financial Inc. (TSX-V: SFI) (the \"Company\") wishes to announce a non-brokered financing of unsecured convertible debentures (\"Debentures\") in the principal amount of up to $1,000,000 (the \"Offering\"). \n\n \n \nThe Debentures will mature on the second anniversary of the date of issuance and bear interest at a rate of 5.00% per annum, calculated and paid semi-annually. The principal amount and any accrued and unpaid interest on the Debenture may be convertible into Common shares, in whole or in part, at any time following the Issue Date but on or before the Maturity Date at a conversion price of $0.50 per Share. The debentures and the shares issuable upon the conversion of the debentures will be subject to a statutory resale restriction for four months and one day from the date of closing.\n\n \n \nThe Company intends to use the proceeds of the financing to expand the Company's portfolio of in-house leases. \n\n \n \nThe offering of the Debentures is subject to the receipt of all necessary approvals, including the final approval of the TSX Venture Exchange.\n\n \n \nThe Debentures will not be listed or posted for trading on any exchange.\n\n \n \nAbout Solution Financial\n\n\n \nSolution Financial was incorporated under the provisions of the Business Corporations Act (British Columbia) in 2004 and specializes in sourcing and leasing luxury and exotic vehicles, yachts and other high value assets. Solution works with a select group of automotive and marine dealerships providing lending solutions to clients who cannot obtain leasing terms with traditional Canadian financial institutions. Typical customers include new immigrants, business owners and international students. Solution Financial provides a unique leasing experience whereby it partners with its clients to help them navigate the challenges of acquiring, insuring, maintaining and upgrading vehicles and luxury assets in Canada.\n\n\n \nFor further information please contact Sean Hodgins at (778) 318-1514.\n\n \n \nON BEHALF OF THE BOARD\n\n \n \n(signed) \"Bryan Pang\" Bryan Pang\n\n\n \nPresident, CEO and Director\n\n \n \n...