Business
Vitalist Inc. Announces Amendment to Secured Debentures
(TheNewswire) CALGARY, AB, CANADA – September 26, 2025 – TheNewswire ...
About this update from Vitalist Inc
[{"type":"text","content":"Vitalist Inc. Announces Amendment to Secured Debentures \n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n CALGARY, AB, CANADA – September 26,\n2025\n \n\n –\n \n\n TheNewswire\n-\n \n\n Vitalist Inc. (\n \n\n TSX-V: VITA\n \n\n )\n(\n \n\n “Vitalist”\n \n\n or the\n \n\n “Company”\n \n\n ), a leading electronics company\nspecializing in smart wearable technology and a licensee of prominent\nglobal brands, is pleased to announce that it has entered into a\nDebenture Amendment Agreement (the “Amending Agreement”) with the\nexisting debt holders (the “Lenders”) to amend the terms of its\nsecured debentures, previously amended on January 13, 2023 and January\n30, 2024. The Amending Agreement is effective as of July 1, 2025 (the\n“Effective Date”).\n \n\n\n\n \"We are thrilled to have the continued support of\nour senior secured lender as we execute our growth strategy,\"\nsaid Kalvie Legat, CEO of Vitalist Inc. \"This partnership fuels\nour mission to build a powerful new ecosystem with VitalOS, one that\nwill change the smartwatch market by bringing true, multi-day battery\nlife and powerful features to millions of potential new users\nworldwide.\"\n \n\n\n\n The Amending Agreement amends the secured debentures,\noriginally dated November 12, 2021, and May 25, 2022, respectively,\nby:\n \n\n\n\n\n\n Extending the Maturity\nDate:\n \n\n The maturity date for the secured\ndebentures has been extended to July 1, 2027.\n \n\n\n\n\n\n Crystallizing Accrued\nInterest:\n \n\n The accrued interest on the secure\ndebentures up to June 30, 2025, has been added to the principal\nbalance. The new total principal amount at the Effective Date is\n$6,290,466, representing $5,000,000 in principle plus $1,290,466 in\naccrued interest.\n \n\n\n\n\n\n Amending Interest:\n \n\n The outstanding unpaid principal balance will no longer bear\ninterest after the Effective Date.\n \n\n\n\n\n\n Furthermore, the agreement also adds a principal\npenalty premium to be incurred on the anniversary of the Effective\nDate, and the Lenders have waived all breaches and events of default\nprior to the Effective Date. All other terms and conditions of the\nsecured debentures remain in full force and effect.\n \n\n\n\n Neither the TSX\nVenture Exchange nor its R...