Bionxt closes first tranche of debenture unit financing

Executive Summary

• Bionxt Solutions Inc. has closed the first tranche of its previously announced non-brokered private placement of convertible debenture units.
• The company raised gross proceeds of $1,009,200 from the issuance of debenture units priced at 60 cents each.
• The transaction includes the issuance of warrants to investors and finder's warrants to Canaccord Genuity Corp., with net proceeds designated for product development, commercialization, and working capital.

Key Details

• Transaction Structure: Non-brokered private placement of convertible debenture units.
• Gross Proceeds: $1,009,200.
• Principal Amount: $1,009,200 outstanding pursuant to the debentures.
• Price per Unit: 60 cents per debenture unit.
• Debenture Terms:
  • 8.0% unsecured convertible debentures.
  • Interest accrues at 8.0% per annum, calculated and payable annually.
  • Interest may be settled via cash payment or issuance of common shares at the conversion price.
  • Maturity: Two years following the date of issuance.
• Warrant Terms (Investors):
  • 1,682,000 common share purchase warrants issued.
  • Exercise Price: 75 cents per common share.
  • Term: Two years from the date of issuance.
• Conversion Terms:
  • Conversion Price: 60 cents per common share.
  • Convertible at the option of the holder at any time prior to the maturity date.
• Finder’s Fees:
  • Aggregate cash finder's fee paid to Canaccord Genuity Corp.: $80,736.
  • Aggregate finder's warrants issued to Canaccord Genuity Corp.: 134,560 warrants.
  • Finder's Warrant Exercise Price: 60 cents per finder's share.
  • Finder's Warrant Term: Two years from the date of issuance.
• Use of Proceeds: Product development and commercialization, intellectual property filings, and general working capital.
• Hold Period: Securities and underlying shares are subject to a statutory hold period until November 26, 2025, under Canadian securities laws.