Mr. Hugh Rogers reports
BIONXT SOLUTIONS ANNOUNCES CONVERTIBLE DEBENTURE UNIT PRIVATE PLACEMENT
Bionxt Solutions Inc. intends to complete a non-brokered private placement of convertible debenture units at a price of 60 cents per debenture unit for gross proceeds of up to $1.2-million.
Each debenture unit consists of: (i) 60 cents principal amount of 8.0 per cent unsecured convertible debentures; and (ii) one common share purchase warrant. Each warrant entitles the holder to acquire one common share in the capital of the company at a price of 75 cents per common share for a period of two years following the date of issuance. The debentures bear interest from their issue date at 8.0 per cent per annum on an accrual basis, calculated and payable on an annual basis, up to and including the date that is two years following the date of issuance. The principal amount of the debentures is convertible, at the option of the holder, into common share at any time prior to the maturity date, at a conversion price of 60 cents per common share. At the election of the company, the interest payable on the principal amount of the debentures may be settled by a cash payment or through the issuance of common shares at the conversion price.
The company intends to use the net proceeds from the offering for product development and commercialization, intellectual property filings, and general working capital. There is no minimum number of debenture units or minimum aggregate proceeds required to close the offering, and the company may, at its discretion, elect to close the offering in one or more tranches.
In connection with the offering, company may pay a cash finder's fee of up to 8 per cent of the gross proceeds of the offering and may issue to certain eligible finders non-transferable broker warrants of up to 8 per cent of the number of debenture units sold under the offering. Each broker warrant will entitle the holder to purchase one common share at an exercise price of 60 cents per broker share for a period of two years from the date of issuance of the broker warrants.
The securities of the company to be issued in connection with the offering, and any common shares issuable upon conversion or exercise thereof, will be subject to a statutory hold period of four months and one day.
About Bionxt Solutions Inc.
Bionxt Solutions is a bioscience innovator focused on next-generation drug delivery technologies, diagnostic screening systems and active pharmaceutical ingredient development. The company's proprietary platforms, sublingual (thin film), transdermal (skin patch) and oral (enteric-coated tablets), target key therapeutic areas, including autoimmune diseases, neurological disorders and longevity. With research and development operations in North America and Europe, Bionxt is advancing regulatory approvals and commercialization efforts, primarily focused on European markets. Bionxt is committed to improving health care by delivering precise, patient-centric solutions that enhance treatment outcomes worldwide.
Bionxt is listed on the Canadian Securities Exchange under the symbol BNXT and the OTC (over-the-counter) markets under the symbol BNXTF, and trades in Germany under WKN: A3D1K3.
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