TrustBIX Inc. Announces Convertible Debenture Financing

About this update from Trustbix, Inc.

[{"type":"text","content":"TrustBIX Inc. Announces Convertible Debenture FinancingEdmonton, Alberta--(Newsfile Corp. - December 23, 2022) - TrustBIX Inc. (TSXV: TBIX) (OTCQB: TBIXF) (\"TrustBIX\" or the \"Company\") is pleased to announce that, subject to regulatory approval, the Company intends to complete a non-brokered private placement (the \"Offering\") in the form of convertible debentures (the \"Debentures\") for an aggregate principal amount of up to $500,000 with an interest rate of ten percent (10%) to be paid in cash.The Debentures and all accrued and unpaid interest shall mature on the date which is 12 months from the closing of the Offering (the \"Maturity Date\"). The principal amount of the Debentures may, at the option of the debenture holder, be converted, in whole or in part, at any time before the Maturity Date into units of the Company (\"Units\") at a price of $0.05 per Unit. Each Unit is comprised of one (1) common share in the capital of the Company (\"Common Share\") and one-half (1/2) Common Share purchase warrant (each whole warrant is known as a \"Warrant\"). Each Warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.05 per Common Share for a period of twelve (12) months from the date of closing.If after four (4) months plus one day after closing, the closing price of the Common Shares on the principal market on which such shares trade is equal to or exceeds $0.10 per Common Share for twenty (20) consecutive trading days, TrustBIX will have the right to accelerate the expiry date of the Warrants. In the event of acceleration, the expiry date will be accelerated to a date that is thirty (30) days after the date that written notice has been given to the warrant holder or the date that TrustBIX has issued a press release announcing the exercise of the acceleration right; and thereafter, no further notification will be provided by TrustBIX to the subscribers. The securities issued under the Offering are subject to a four-month plus one day hold period from the time of closing of the Offering, as applicable.The net proceeds from the Offering will be used for general working capital of TrustBIX and for growing the business. About TrustBIX (TSXV: TBIX) (OTCQB: TBIXF)As an innovative leader, TrustBIX provides agri-food traceability and chain of custody value solutions. The Company's goal is t...

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