Bionxt Solutions to issue six million shares for debt

Executive Summary

• Bionxt Solutions Inc. proposes to settle $2.704 million of outstanding debt (principal $2.6 M plus $104 k accrued interest) by issuing 6,008,883 common shares at a deemed price of C$0.45 per debt share.
• The settlement will fully satisfy the 8 % convertible debentures issued on Dec. 7 2022 and remove the related liability from Bionxt’s balance sheet.
• Issued shares will be subject to a statutory four‑month‑and‑one‑day hold period under Canadian Securities Exchange rules, and completion is conditional upon the terms of the settlement agreement.

Key Details

• Outstanding Debt: $2,704,000 total (principal $2,600,000; accrued interest $104,000).
• Instrument Being Settled: 8 % convertible debentures issued Dec. 7 2022.
• Equity Consideration: 6,008,883 common shares to be issued at a deemed price of C$0.45 per debt share.
• Hold Period: Shares subject to a four‑month‑and‑one‑day statutory hold period per Canadian securities regulations.
• Conditions: Issuance and settlement are contingent upon fulfillment of conditions outlined in the debt settlement agreement.
• Effect on Capital Structure: Converts debt into equity, reducing leverage and improving balance‑sheet strength.

Notable Quotes

(No executive quotes were provided in the release.)