Yorkton Equity Group Inc. Announces Extension of Private Placement

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[{"type":"text","content":"Yorkton Equity Group Inc. Announces Extension of Private Placement\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, Alberta -\n \n \n TheNewswire -\n \n \n November 27, 2023 -\n \n \n Yorkton Equity Group Inc.\n \n \n (TSXV:YEG)\n \n \n (“\n \n \n Yorkton\n \n \n ” or the\n“\n \n \n Company\n \n \n ”) announces that the Company has been granted an extension\nby the TSX Venture Exchange (\"TSXV\") to complete the\nnon-brokered private placement, as previously announced on October\n12\n \n \n th\n \n \n , 2023 and October 18\n \n \n th\n \n \n , 2023 (the\n\"Private Placement\"), of up to $2,200,000 in unsecured\nconvertible debentures of the Company (the “Convertible\nDebentures”) of which $2,000,000 was conditionally closed on October\n17\n \n \n th\n \n \n , 2023 and $200,000 remains available, by no later than\nDecember 18\n \n \n th\n \n \n , 2023.\n \n \n \n \n The extension will permit sufficient time for certain\nsubscribers to complete all necessary documentation and requirements\nfor the Company to accept their subscriptions.  The Private Placement\nremains subject to the final acceptance of the TSXV and all regulatory\napprovals.\n \n \n \n \n Details of this Private\nPlacement:\n \n \n \n \n Each Convertible Debenture has an issue price of $1,000\nwith an interest rate of eight percent (8%) per annum, payable\nannually to the Convertible Debenture holders only in cash no later\nthan thirty (30) days from the anniversary date of the closing date of\nthe Private Placement to the maturity date.\n \n \n \n \n Each Convertible Debenture will mature on the date that\nis five (5) years from the date of issuance of the Convertible\nDebenture (the “Term”). The principal amount of each Convertible\nDebenture may, at the option of the Convertible Debenture holder, be\nconvertible, in whole or in part during the Term, into common shares\nof the Company (“Common Shares”) at a conversion price of $0.20\nper Common Share (the “Conversion”), after which such principal\namount of the Convertible Debenture will be extinguished.\n \n \n \n \n The Company, after a period of thirty-six (36) months\nfollowing the date of closing, will have the right, but not  the\nobligation, to redeem ...

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