Financings
Sleeping Giant arranges debenture unit offering
SSX · Price
Executive Summary
- Sleeping Giant Capital Corp. announced a non-brokered private placement of up to 350 debenture units at $1,000 per unit, targeting aggregate gross proceeds of up to $350,000.
- The company has secured commitments from insiders and existing shareholders for $180,000 of the offering.
- The proceeds will be used for general working capital and corporate purposes, with the offering expected to close around December 14, 2025.
Key Details
- Offering Structure: Non-brokered private placement of up to 350 debenture units.
- Price: $1,000 per debenture unit.
- Gross Proceeds: Up to $350,000 total; $180,000 currently committed by insiders and existing shareholders.
- Use of Proceeds: General working capital and corporate purposes.
- Unit Composition: Each unit consists of:
- One $1,000 principal amount secured convertible debenture.
- 20,000 common share purchase warrants.
- Warrant Terms:
- Exercise Price: $0.05 per share.
- Duration: Five years from the issuance date.
- Right: To acquire one common share per warrant.
- Debenture Terms:
- Interest Rate: 12% per annum.
- Interest Payment: Payable in shares at the market price (subject to TSX-V acceptance); if not accepted, paid in cash.
- Maturity: 12 months from the date of issuance.
- Conversion: Principal and accrued interest automatically convert into shares on the maturity date.
- Change of Control: Automatic conversion into shares at $0.05 per share immediately prior to a change of control, reverse takeover, or management recapitalization.
- Security: Direct, secured obligations ranking pari passu, secured by a general security agreement over all corporation property and assets.
- Regulatory & Legal:
- Closing subject to TSX-V approval and customary conditions.
- Resale Restriction: Four months and one day pursuant to Canadian securities laws and TSX-V policies.
- Insider participation exempt from valuation and minority shareholder approval requirements of Multilateral Instrument 61-101.
Notable Quotes
- None provided in the text.