Too Bad A-Labs + Financing off on FridaysA-Labs
https://il.linkedin.com/company/a-labs-finance
A-Labs Finance & Advisory Ltd.
Corporate office Closed
Closed ⋅ Opens 9a.m. Sun
https://ca.finance.yahoo.com/news/12-64-fund-limited-partnership-165300005.html
SYDNEY, April 20, 2023 /CNW/ - 12.64 Fund Limited Partnership (the "Acquiror") have announced that they have completed a US $300,000 convertible loan financing (the "Convertible Loan") with AdRabbit Limited (TSXV: RABI) (the "Company"). The Convertible Loan forms part of a larger private placement of unsecured, convertible loans of the Company of up to a principal amount of US$700,000. The principal amount owing under the Convertible Loan (the "Principal Amount") will mature on the date which is 12 months from the effective date of the Convertible Loan (the "Maturity Date"). Interest on the Principal Amount will accrue at an annual rate of 6% and will be payable at the Maturity Date or upon Conversion (as defined below).
The Principal Amount will be automatically converted ("Conversion") into ordinary shares of the Company (the "Shares") immediately prior to the completion of specified events (each, a "Conversion Event"). The Principal Amount may be converted by the Acquiror into Shares at the greater of: (i) C$0.05 per Share; or (ii) a 50% discount to: (A) the offering price of securities issued under the financing completed concurrently with a Conversion Event; or (B) if there is no such concurrent financing, the deemed price per Share under a Conversion Event (the "Conversion Price").