Purebread Brands Inc. Announces Closing of Second Tranche of Debt Settlement

Executive Summary

• Purebread Brands Inc. completed the second tranche of its debt‑settlement financing, issuing 640,000 units at an average price of $1.22 per unit, fully settling $783,978 of accrued indebtedness.
• Each unit consists of one common share and half a warrant to purchase an additional share at $2.50 for 36 months.
• The company expects to close a third and final tranche in the coming weeks, issuing 522,894 units to settle an additional $392,048 of debt, increasing total outstanding shares to approximately 27.55 million.

Key Details

• Units Issued (2nd Tranche): 640,000
• Average Issue Price: ~$1.22 per unit
• Total Debt Settled (2nd Tranche): $783,978
• Unit Composition: 1 Common Share + 0.5 Common Share purchase warrant
• Warrant Exercise Price: $2.50 per share; exercisable for 36 months from issuance
• Pre‑transaction Shares Outstanding: 26,905,221 common shares
• Post‑transaction Shares Outstanding: 27,545,221 common shares (after 2nd tranche)
• Planned 3rd Tranche: 522,894 units to settle $392,048 of additional indebtedness; expected closing “in the following weeks.”
• Hold Period: All securities subject to a four‑month hold period per Canadian securities law and any other applicable restrictions.

Notable Quotes

(No direct quotes were provided in the release.)