RYU Apparel $3,722,000 debenture private placement
2022-03-25 18:22 ET - Private Placement - Debenture The TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of a non-brokered private placement announced Oct. 20, 2021, Dec. 20, 2021, Jan. 19, 2022, and March 16, 2022. Convertible debenture: $3,722,000 in units of $1,000, convertible into 24,813,333 shares Conversion price: Each unit has a face value of $1,000 and is convertible into 6,666.67 shares at 15 cents per share. Maturity date: three years from closing Warrants: 7,444,000 warrants, with each warrant exercisable into one common share at 10 cents for three years from closing, subject to an acceleration clause Interest rate: 8 per cent per annum Number of placees: 10 placees Insider: Cesare Fazari, $600,000 Finder's fee: Canaccord Genuity Corp., $24,400 cash and 610,000 warrants payable (Each warrant is exercisable into one common share at 10 cents for three years from closing.)