Trenchant Tech closes debt settlement, financing

Executive Summary

• Trenchant Technologies Capital Corp. settled $518,301.37 of outstanding debt by issuing new convertible debentures.
• Closed a private placement of 150 convertible debentures for gross proceeds of $150,000, bearing 12% annual interest and maturing one year from issuance.
• Proceeds will be used for general working capital; holders have the option to convert at $0.10 per share.

Key Details

• Debt Settlement: $518,301.37 of debt (originally issued April 25 2024, matured April 25 2025) settled via issuance of new convertible debentures.
• Private Placement Size: 150 convertible debentures issued for total gross proceeds of $150,000.
• Interest Rate: 12% per annum on the newly issued debentures.
• Maturity: One year from the date of issuance for all debentures.
• Conversion Terms: Holder may convert principal and accrued interest into common shares at a conversion price of $0.10 per share, subject to customary adjustments.
• Use of Proceeds: Funds are earmarked for general working capital purposes.
• Statutory Hold Period: All securities issued are subject to a hold period expiring four months and one day after issuance.
• Related Party Transaction: Certain insiders participated; the issuances qualify as related‑party transactions under MI 61‑101 but are exempt from valuation and minority shareholder approval requirements per Sections 5.5(b) and 5.7(a).

Notable Quotes

(No quotes provided in the release.)