Innovotech closes $200K convertible debenture financing

Executive Summary

• Innovotech Inc. closed a $200,000 unsecured convertible debenture with an 8% quarterly cash interest, maturing on Oct. 15, 2030.
• The debenture may be converted at any time before maturity into common shares at $0.25 per share.
• Proceeds will be used to expand analytical services through Keystone Labs Inc., including purchase of state‑of‑the‑art laboratory equipment for hazardous drug testing and broader pharmaceutical/health product validation.

Key Details

• Principal Amount: $200,000 aggregate principal.
• Interest Rate: 8% per annum, payable quarterly in cash only.
• Maturity Date: Oct. 15, 2030 (60 months from issuance).
• Conversion Price: $0.25 per common share; holder may convert any portion at any time before maturity.
• Security: Unsecured debenture.
• Use of Proceeds: Expand Innovotech’s analytical services via Keystone Labs Inc.; purchase of advanced laboratory equipment for hazardous drug testing and enhanced analytical/identification capabilities in health product commercialization, pharmaceuticals, and natural health product validation.
• Related‑Party Transaction: Involves a control person; qualifies for MI 61‑101 exemptions because consideration does not exceed 25% of market cap and fair market value ≤ $2.5 M. No minority shareholder approval required.
• Finder’s Fees: None paid in connection with the offering.

Notable Quotes

(No executive quotes were provided in the release.)