Mr. Thomas English reports
TRENCHANT TECHNOLOGIES CAPITAL CORP. ANNOUNCES PRIVATE PLACEMENT OFFERING OF UP TO $1 MILLION CONVERTIBLE DEBENTURES
Trenchant Technologies Capital Corp. has arranged a private placement of convertible debentures for gross proceeds of up to $1-million.
The offering consists of the issuance of convertible debentures of the company bearing interest at a rate of 12 per cent per annum and maturing one year from the date of issuance. At the sole option of the holder, the principal amount of the debentures and accrued interest thereon may be converted into common shares in the capital of the company at a conversion price of 10 cents per share, subject to certain adjustments as provided for in the certificates representing the debentures.
The company intends to use the net proceeds of the offering for general working capital purposes and for investments in its portfolio companies or new opportunities.
The securities issued pursuant to the offering are being offered to purchasers in reliance upon exemptions from prospectus requirements under applicable Canadian securities legislation. Directors and officers of the company may acquire securities under the offering, which will be considered a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The company may pay finders' fees to eligible finders in connection with the offering, subject to compliance with applicable securities laws and Canadian Securities Exchange policies.
All securities proposed to be issued in connection with the offering will be subject to a statutory hold period of four months and one day from the date of issuance.
About Trenchant Technologies Capital Corp.
Trenchant Technologies Capital is a forward-thinking investment issuer focused on supporting transformative ventures in artificial intelligence, quantum computing and next-generation cybersecurity poised to reshape legacy industries.
We seek Safe Harbor.
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