Credissential Announces Closing First Tranche Of Convertible Note Financing

Executive Summary

• Credissential Inc. closed the first tranche of its previously announced convertible note offering, raising CAD 360,750.
• The senior unsecured convertible notes bear 20% annual interest, mature in 12 months, and are convertible at a price tied to the CSE closing price (minimum $0.05 per share).
• Net proceeds are being used to repay certain creditor debts.

Key Details

• Gross proceeds: CAD 360,750 from the issuance of senior unsecured convertible notes to Helena Special Opportunities, LLC.
• Interest rate: 20% per annum, payable according to note terms.
• Maturity: 12 months from issuance date.
• Conversion price: Equal to 100% of the CSE closing price on the trading day preceding a conversion notice, subject to a minimum of $0.05 per share (or as permitted by CSE policies).
• Redemption right: Company may redeem all or part of the notes prior to maturity with ten‑day written notice and payment of 110% of principal redeemed; HSO retains conversion rights during this period.
• Ownership limitation: 9.99% cap on beneficial ownership of Credissential’s common shares by HSO (and any joint actors) after conversion.
• Use of proceeds: Repayment of certain debts owed to creditors.
• Statutory hold period: Securities subject to a four‑month and one‑day hold period per Canadian securities law.

Notable Quotes

(No executive quotes were included in the release.)