representative work

Avant Brands Completes $3.9 Million Unsecured Convertible Debenture Units Offering

07/29/2024

On July 29, 2024, Avant Brands Inc. closed a non-brokered private placement of 3,900 unsecured convertible debenture units at a price of $1,000 per unsecured convertible debenture unit for gross proceeds of $3.9 million.

Each unsecured convertible debenture unit is comprised of (i) $1,000 principal amount of senior unsecured convertible debentures (“Convertible Debentures”); and (ii) 10,000 common share purchase warrants of Avant.

The Convertible Debentures bear interest at a rate of 10% per annum from the closing date of July 26, 2024, calculated and payable in cash, with any remaining accrued and unpaid interest to be paid by Avant on the fourth anniversary of the closing date.

Cassels acted for Avant.

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