Trenchant Technologies to issue debentures for debt

Executive Summary

• Trenchant Technologies Capital Corp. settled $518,301.37 of outstanding debt by issuing new convertible debentures at $1,000 each.
• The company is conducting a private placement of additional convertible debentures for a principal amount of $150,000 to fund general working capital.
• The debentures bear 12 % annual interest, mature one year from issuance, and are convertible at $0.10 per common share (subject to adjustments).

Key Details

• Debt Settlement: Existing debentures (issued 25‑Apr‑2024, maturing 25‑Apr‑2025) were settled in full for an aggregate principal and accrued interest of $518,301.37 via issuance of new convertible debentures at $1,000 per debenture.
• Additional Private Placement: Company will issue additional convertible debentures with a principal amount of $150,000.
• Interest Rate & Maturity: All newly issued debentures bear interest at 12 % per annum and mature one year from the date of issuance.
• Conversion Terms: At holder’s option, each debenture (including principal and accrued interest) may be converted into common shares at a conversion price of $0.10 per share, subject to customary adjustments.
• Use of Proceeds: Net proceeds from the $150,000 placement are earmarked for general working capital purposes.
• Statutory Hold Period: All securities issued in connection with the settlement and placement are subject to a statutory hold period expiring four months and one day after issuance.
• Regulatory Approval: Completion of both the debt settlement and the additional placement is contingent upon approval by the Canadian Securities Exchange (CSE).
• Related‑Party Transaction: Certain insiders are participating; the issuances qualify as related‑party transactions under MI 61‑101 but are exempt from valuation and minority shareholder approval requirements per Sections 5.5(b) and 5.7(a).

Notable Quotes

(No direct quotes were provided in the release.)