Greenbriar amends debenture terms, extends warrants

Executive Summary

• Greenbriar Sustainable Living Inc. announced the closing of amendments to its $1.0 million unsecured convertible debenture and associated warrants, receiving acceptance from the TSX Venture Exchange.
• The amendments extend the maturity date and conversion period of the debenture by two years, moving from June 30, 2026, to June 30, 2028.
• The conversion price of the debenture has been reduced from $1.25 to $1.00 per common share, while the warrant expiry date is also extended by two years to June 30, 2028.

Key Details

• Transaction Type: Amendment to terms of outstanding convertible debenture and warrants.
• Principal Amount: $1,000,000 CAD.
• Debenture Maturity Extension: Extended from June 30, 2026, to June 30, 2028.
• Conversion Price Reduction: Reduced from $1.25 per common share to $1.00 per common share.
• Maximum Convertible Shares: 1,000,000 common shares (based on the amended $1.00 conversion price).
• Warrant Expiry Extension: Extended from June 30, 2026, to June 30, 2028.
• Warrant Exercise Price: Remains unchanged at $1.30 per common share.
• Interest Rate: 12% per annum.
• Accrued Interest Settlement: May be settled in cash or, at the company's election, through a share-for-debt transaction based on the market price of common shares at the time of settlement.
• Original Issuance: Debenture originally issued June 30, 2023, pursuant to a private placement announced June 22, 2023, and closed July 6, 2023.
• Warrants: 460,000 detachable common share purchase warrants were issued with the original debenture.
• Counterparty Status: The debentureholder is an arm's-length party; no insider of the company holds the debenture or warrants.
• Exchange Approval: Accepted by the TSX Venture Exchange; effective on or about June 30, 2026.