Credissential Announces Closing Of Final Tranche Of Convertible Note Financing

Executive Summary

• Credissential Inc. closed the final tranche of its previously announced convertible note offering, raising CAD 150,000 in gross proceeds.
• The senior unsecured convertible notes bear 20% annual interest, mature in 12 months, and are convertible at a price equal to 100% of the prior‑day CSE closing price (minimum $0.05 per share).
• Net proceeds will be used to repay certain creditor debts and for general working capital purposes.

Key Details

• Offering Size: CAD 150,000 gross proceeds from the final tranche.
• Instrument: Senior unsecured convertible notes.
• Interest Rate: 20% per annum, payable according to note terms.
• Maturity: 12 months from issuance date.
• Conversion Price: Equal to 100% of the CSE closing price on the trading day immediately preceding a conversion notice, subject to a minimum of $0.05 per share.
• Redemption Right: Company may redeem all or part of the notes prior to maturity with ten (10) trading days’ written notice, paying 110% of principal redeemed.
• Ownership Limitation: Holders limited to a maximum of 9.99% beneficial ownership of Credissential’s common shares after conversion.
• Use of Proceeds: Repayment of certain creditor debts and general working capital.
• Regulatory Compliance: Notes issued under ASC Rule 72‑501; no hold period applies.

Notable Quotes

(No executive quotes were included in the release.)