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VERTEX RESOURCE GROUP LTD. AMENDS AND RESTATES $15,000,000 DEBENTURE FINANCING
VERTEX RESOURCE GROUP LTD. AMENDS AND RESTATES $15,000,000 DEBENTURE FINANCING Canada New...
About this update from Vertex Resource Group Ltd.
[{"type":"text","content":"\n\n\nVERTEX RESOURCE GROUP LTD. AMENDS AND RESTATES $15,000,000 DEBENTURE FINANCING\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\nSHERWOOD PARK, AB, Dec. 22, 2025 /CNW/ - (TSXV: VTX) – Vertex Resource Group Ltd. (\"Vertex\" or the \"Corporation\") is pleased to announce that, with the consent of its senior creditors, the Corporation and the holders of its 8.0% convertible secured debentures, issued on March 7, 2022, and due on March 7, 2027 (the \"Original Debentures\") have agreed to amend and restate the terms of the Original Debentures.\n\n\n\n\n\n\n\nThe amendments to the Original Debentures include: (i) extending the maturity date from March 7, 2027, to March 7, 2029, with the ability to extend the maturity date, at the Corporation's option and with the prior written consent of the holders of the debentures, for up to two additional one-year terms; (ii) removing the holder's right to convert the principal amount into common shares of the Corporation; and (iii) amending the interest rate of the Original Debenture from 8.0% per annum to 10.0% per annum, effective as of the date hereof (the \"Amended and Restated Debentures\").\nEARLY WARNING DISCLOSURE\nThe Original Debentures were issued in connection with a non-brokered private placement for aggregate gross proceeds equal to $15,000,000, pursuant to which: (a) IBBC GP Inc. (of 2900, 421 7th Avenue SW, Calgary, AB T2P 0Z3) was issued an Original Debenture in the principal amount of $235,000, convertible into up to 361,538 common shares, representing, as of the date of the Original Debentures, 0.32% of the outstanding common shares on a post-conversion basis, and (b) IBBC Limited Partnership was issued an Original Debenture in the principal amount of $14,765,000, convertible into up to 22,715,385 common shares, representing, as of the date of the Original Debentures, 19.86% of the outstanding common shares on a post-conversion basis (collectively, the \"IBBC Conve...