Mr. David Michaud reports
PARVIS CLOSES FIRST TRANCHE OF CONVERTIBLE DEBENTURE FINANCING AND FINALIZES STRATEGIC APPOINTMENTS
Parvis Invest Inc., further to its news release dated June 4, 2025, has completed the first tranche of its previously announced non-brokered private placement offering of unsecured convertible debentures for aggregate gross proceeds of $300,000. The closing occurred on June 5, 2025.
The debentures issued under the first tranche of the offering bear interest at a rate of 10 per cent per annum and mature 24 months from the closing date, unless earlier converted in accordance with their terms. The debentures are convertible at the option of holder into common shares of the company at a price of six cents per share during the first 12 months following the closing date and at a price of 10 cents per share thereafter until maturity.
All debentures issued under the first tranche of the offering and any shares issuable upon conversion thereof are subject to a statutory hold period of four months and one day from the closing date, in accordance with applicable securities laws and policies of TSX Venture Exchange.
No finders' fees or commissions were paid in connection with the first tranche of the offering. The net proceeds will be used for general working capital and corporate purposes.
In connection with the offering, the company has entered into strategic partnership agreements with Bluestar Professional Services Inc. and Lankin Investment Inc., affiliates of subscribers under the offering. As part of these arrangements, Roy Murad (chairman of Bluestar) and Kyle Pulis (chief executive officer of Lankin) were appointed to the board of directors of the company following the completion of the first tranche of the offering and are now considered insiders. Other than these appointments, the offering does not result in the creation of any new control persons or insiders, and does not involve participation by existing insiders of the company.
The TSX Venture Exchange has conditionally approved the first tranche of the offering, which remains subject to final acceptance by the TSX-V.
About Parvis Invest Inc.
Parvis is a technology-driven investment platform dedicated to democratizing access to institutional-quality opportunities. Utilizing AI (artificial intelligence) and blockchain technology, Parvis streamlines the investment process, making it more accessible and efficient. Headquartered in Vancouver, Parvis operates with experts in Toronto, Vancouver, Kelowna and Montreal.
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