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Yorkton Equity Group Inc. Announces Conditional Closing of $2.48 Million and Revised Terms of Convertible Debenture Private Placement Previously Announced on November 5, 2021
(TheNewswire) Edmonton, Alberta - TheNewswire – January 17, 2022 &#x...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Announces Conditional Closing of $2.48 Million and Revised Terms of Convertible Debenture Private Placement Previously Announced on November 5, 2021\n \n \n (TheNewswire)\n \n \n \n Edmonton,\n \n \n Alberta -\n \n \n TheNewswire\n \n – January 17, 2022 –\nYorkton Equity Group Inc. (“Yorkton” or the “Company”)\n(TSXV:YEG) announces it has received conditional approval from the TSX\nVenture Exchange (the “Exchange”) and has closed on the private\nplacement previously announced on November 5, 2021.  The Company will\nissue 2,480 unsecured convertible debenture units of the Company (the\n“Debenture Units”) at an issue price of $1,000 per Debenture Unit\nfor aggregate gross proceeds of $2,480,000.  In addition, the Company\nhas amended the terms of its private placement previously announced on\nNovember 5, 2021, as per the policies of the Exchange.\n \n \n Under the amended terms, the Company intends to complete this offering\nby way of a private placement of up to $5,000,000 of aggregate\nprincipal amount of Debenture Units at an issue price of $1,000 per\nDebenture Unit (the “Offering”).  Each Debenture Unit is\ncomprised of an unsecured convertible debenture of the Company (the\n“Convertible Debenture”) in the principal amount of $1,000 with an\ninterest rate of seven percent (7%) per annum payable annually, only\nin cash without any conversion of that interest component into common\nshares, together with six hundred (600) common share purchase warrants\nof the Company (the “Warrants”).  Each Warrant may be exercisable\ninto one (1) common share of the Company (“Common Share”) at a\nprice of $0.60 per Common Share for a period of five (5) years from\nthe date of the issuance of the Warrant.\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 at a conversion price of $0.60 per Common Share (the\n“Conversion”), after which such principal amount of th...