A diversified industry corporation that seeks investment in various projects and corporations to bring value to its shareholders is pleased to announce its intention to conduct a non-brokered private placement of unsecured convertible debentures with an aggregate principal amount of up to $500,000. This Debenture will allow investors to convert their debentures into units of the Company.
Each unit will be comprised of one common share and one share purchase warrant. The warrants are exercisable, granting the holder the right to purchase additional common shares for a period of 3 years following the issuance.
The Debentures mature on the date that is 12 months from the date of issuance and bear interest at a rate of 10.0% per annum from the Closing Date, payable on the earlier of the Maturity Date or the Conversion Date.
The proceeds of the financing will be used for the expansion of the Company's business and for general corporate purposes.
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