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Financings

Playgon Games further extends debenture maturity dates

By The Northwire Desk — AI Analysis Oct 31, 2025 · 16:30 DEAL · 0.015 Playgon Games Inc
DEAL · Price

Executive Summary

  • Playgon Games Inc. seeks shareholder approval to extend the maturity of its unsecured convertible debentures from Nov 3 2025 to Mar 31 2026.
  • The company also proposes to increase and extend its secured promissory note with Pure Live Entertainment from a $5 million limit to $14 million, with a new term ending Mar 31 2026.
  • Both proposals remain subject to TSX‑V approval and rely on related‑party exemption provisions under MI 61‑101.

Key Details

  • Unsecured Convertible Debentures – Total principal originally issued: $7.066 million (Jan 19 2023, Mar 23 2023, Dec 29 2023) plus $8.55 million (Series 2, May 3 2023).
  • Current maturity: Nov 3 2025.
  • Proposed extension: to Mar 31 2026, requiring approval of ≥66⅔% of principal for each series.

  • Additional interest payment dates would be added (e.g., Dec 31 2025 for Jan 19 2023 & Mar 23 2023 issues; Dec 31 2025 and Mar 31 2026 for Dec 29 2023 issue).

  • Secured Promissory Note with Pure Live Entertainment – Existing note allows advances at Pure Live’s discretion, 10% annual interest.

  • Current TSX‑V approved ceiling: $5 million.
  • Proposed increase to $14 million (subject to new TSX‑V approval).
  • Term extension from original expiry to Mar 31 2026.

  • Guarantees provided by Playgon Interactive Inc., Playgon Malta Ltd., and Playgon Malta Holding Ltd.; security interest over all present and after‑acquired assets, plus pledges of shares in Playgon Holding and Playgon Ltd.

  • Related‑Party Considerations – Pure Live is owned by Kathleen Crook (current control person). James Penturn (former chairman) is sole director/officer of the noteholder. Debenture holders include related parties. The company will rely on MI 61‑101 exemptions from minority shareholder approval.

  • Use of Proceeds – Any advances under the enlarged promissory note will be used for operating expenses, general corporate purposes, and capital expenditures.

  • Regulatory Approval – Both the debenture extension and the note upsizing/extension require TSX‑V approval.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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