Centr Brands closes $50,000 debenture financing

Executive Summary

• Centr Brands Corp. closed a non‑brokered private placement of 50 unsecured convertible debentures, each with a $1,000 principal amount, for an aggregate principal of $50,000.
• The debentures bear interest at 10 % per annum, payable annually, and mature on November 21, 2026.
• Net proceeds will be used for working capital and general corporate purposes; two insiders participated under exempt related‑party transaction rules.

Key Details

• Offering Size: 50 unsecured convertible debentures @ $1,000 each = $50,000 aggregate principal.
• Interest Rate: 10 % per annum, calculated and payable annually from the issuance date.
• Maturity: 12 months after issuance, i.e., November 21, 2026.
• Conversion Rights: Holders may convert any portion of principal (plus accrued interest) at any time before maturity to equity securities at a price equal to the greater of:
• the market price as defined by CSE policies, or
• the offering price of Centr’s first equity financing after closing, subject to CSE approval.
• Use of Proceeds: Funds will be allocated to working capital and general corporate purposes.
• Insider Participation: Two company insiders participated; transaction qualifies as an exempt related‑party transaction under MI 61‑101 (fair market value and consideration each < 25 % of market cap).
• Statutory Hold Period: All securities are subject to a four‑month‑plus‑one‑day hold period per Canadian securities law.

Notable Quotes

(No CEO/President quotes were provided in the release.)