Centr Brands arranges $50,000 debenture financing

Executive Summary

• Centr Brands Corp. announced a non‑brokered private placement of up to 50 unsecured convertible debentures with an aggregate principal amount of $50,000.
• The debentures bear interest at 10 % per annum, payable annually, and mature 12 months after issuance.
• Holders may convert the debentures into equity at a price equal to the greater of the CSE market price or the offering price of the company’s next equity financing; proceeds are earmarked for working capital and general corporate purposes.

Key Details

• Offering Size: Up to 50 unsecured convertible debentures, total principal $50,000.
• Interest Rate: 10 % per annum, calculated and payable annually from the date of issuance.
• Maturity: 12 months from the issuance date.
• Conversion Terms: Convertible, in whole or in part, at any time before maturity at a price equal to the greater of (a) the CSE market price or (b) the offering price of the company’s first equity financing after closing, subject to exchange approval.
• Use of Proceeds: Net proceeds will be used for working capital and general corporate purposes.
• Closing Conditions: Subject to receipt of all required corporate and regulatory approvals, including CSE approval; securities will be subject to statutory hold periods; no minimum subscription amount; may close in multiple tranches.
• Insider Participation: Insiders are expected to participate; such participation is treated as a related‑party transaction under MI 61‑101 but is exempt from formal valuation and minority‑shareholder approval because the value does not exceed 25 % of market capitalization.

Notable Quotes

(No executive quotes were provided in the release.)