Hank Payments Applies for Extension of Price Protection for Private Placement Offering

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[{"type":"text","content":"Hank Payments Applies for Extension of Price Protection for Private Placement OfferingToronto, Ontario--(Newsfile Corp. - June 29, 2022) - Hank Payments Corp. (TSXV: HANK) (\"Hank\" or the \"Company\"), a North American leader in consumer Fintech Software-as-a-Service (SaaS) that supports consumer budgeting, cash management and payment automation through it's secure, modern, automated and best-in-class proprietary Cloud-based technology solution and related intellectual property (the \"Hank Payment Platform\" or the \"Platform\") announces that in connection with the closing of its initial tranche of its non-brokered private placement (the \"Offering\"), originally announced in its press release dated June 14, 2022, that it has applied to the TSX Venture Exchange for an extension of a further 30 days price protection to July 30, 2022 in order to complete subscriptions for up to a further $700,000. Subsequent closings will be subject to receipt of subscriptions and a number of other conditions, including, without limitation, the receipt of all relevant regulatory and TSX Venture Exchange approval.Each Unit consists of one $1,000 convertible debenture (\"Debentures\") and 3,333 common share purchase warrants (\"Warrant\"). The Debentures mature on and become payable three years form the date of issuance (the \"Term\") and bear interest at a fixed rate of 10% per annum, payable quarterly. The Debentures are direct, unsecured obligations of the Company, ranking equally with all other unsecured indebtedness of the Company. At any time during the Term, a holder of Debentures may elect to convert the outstanding net principal amount, or any portion thereof, into common shares at a conversion price of $0.15 per share (the \"Conversion Price\"). The Company may force the conversion of the principal amount of the then outstanding Debentures at any time after the day that is twelve (12) months from the closing date, at the Conversion Price on not less than 5 days' notice if the volume weighted average trading price of the common shares on the TSX Venture Exchange (the \"TSXV\") for any 10 consecutive trading day period is equal to or greater than $0.50. Each Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.25 per common share for a period of two years from the date of issuance. While the Co...

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