- TrustBIX (TBIX) has announced a non-brokered private placement of up to $500,000 in convertible debentures
- The debentures, maturing in one year, will carry an interest rate of ten percent and can be converted into units of the company
- The net proceeds will be used for general working capital
- TrustBIX provides information solutions for the livestock industry
- TrustBIX Inc. (TBIX) opened trading at C$0.03
TrustBIX (TBIX) has announced a non-brokered private placement of up to $500,000 in convertible debentures.
The debentures issued will carry an interest rate of ten percent to be paid in cash. The debentures mature in one year. The principal amount of the debentures may be converted into units of the company at a price of $0.05 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $0.05 for a period of 12 months from the date of closing.
Warrants are subject to an acceleration clause.
The securities issued will be subject to a statutory four-month hold period.
The net proceeds will be used for general working capital.
TrustBIX provides information solutions for the livestock industry.
TrustBIX Inc. (TBIX) opened trading at C$0.03.