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Yorkton Equity Group Inc. Announces Closing of Convertible Debenture Private Placement and Early Warning Report
(TheNewswire) Edmonton, AB - TheNewswire - April 20, 2023 - Yorkt...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Announces Closing of Convertible Debenture Private Placement and Early Warning Report\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 Edmonton,\n \n \n AB\n \n \n -\n \n \n TheNewswire -\n \n \n April 20,\n \n \n 2023\n \n \n -\n \n Yorkton Equity Group Inc. (“\n \n Yorkton\n \n ” or the “\n \n Company\n \n ”)\n \n (TSXV:YEG)\n \n announces the receipt of\nfinal Exchange acceptance for the closing of its private placement\npreviously announced on February 10, 2023 (the “Private\nPlacement”).  The Company will issue 250 unsecured convertible\ndebentures of the Company (the “Convertible Debentures”) to the\ninvestors at an issue price of $1,000 per Convertible Debenture for\naggregate gross proceeds of $250,000.  Mr. Ben Lui, an insider of the\nCompany, participated in the Private Placement and acquired 55\nunsecured convertible debentures for $55,000.\n \n \n \n Details of this Private\nPlacement\n \n \n :\n \n \n \n Each Convertible Debenture will have an issue price of $1,000 with an\ninterest rate of eight percent (8%) per annum, payable annually to the\nConvertible Debenture holders only in cash no later than thirty (30)\ndays from the anniversary date of the closing date of the Private\nPlacement to the maturity date.\n \n \n \n Each Convertible Debenture\n \n will mature on the\ndate that is five (5) years from the date of issuance of the\nConvertible Debenture (the “Term”). The principal amount of each\nConvertible Debenture may, at the option of the Convertible Debenture\nholder, be convertible, in whole or in part during the Term, into\ncommon shares of the Company (“Common Shares”) at a conversion\nprice of $0.30 per Common Share (the “Conversion”), after which\nsuch principal amount of the Convertible Debenture will be\nextinguished.\n \n \n \n The Convertible Debentures may be repurchased by the\nCompany, in whole or in part, at the Convertible Debenture holder’s\nrequest, subject to the sole discretion of management of the Company,\nacting reasonably. For a period of thirty (30) calendar days following\nthe third (3\n \n \n rd\n \n \n ) and fourth (4\n \n \n th\n \n \n ) anniversary after the closing date, the\nConvertible De...