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Financings

Nepra Foods Announces USD$487,849 Debt Conversion

By The Northwire Desk — AI Analysis Feb 12, 2026 · 13:00 NPRA · 0.085 Nepra Foods Inc.
NPRA · Price

Executive Summary

  • Nepra Foods Inc. has agreed to convert the entire outstanding USD $475,000 revolving promissory note (plus accrued interest) into common shares at a CAD $0.10 per share conversion price.
  • The conversion will result in the issuance of 6,969,273 common shares, representing total loan obligations of USD $487,849.10 being satisfied.
  • Closing is expected within five business days of the announcement, eliminating all remaining obligations to the lender, who is also the CEO and largest shareholder.

Key Details

  • Loan Obligations Converted: USD $487,849.10 (principal USD $475,000 plus accrued interest).
  • Conversion Price: CAD $0.10 per common share.
  • Shares to be Issued: 6,969,273 common shares.
  • Closing Timeline: No later than five business days from the date of the release, subject to CSE policies.
  • Lender/Insider: William Hogan – director, CEO, and largest shareholder; transaction qualifies as a related‑party transaction under MI 61‑101.
  • Regulatory Exemptions: Company relies on MI 61‑101 exemptions for valuation and minority approval because no securities are listed on prescribed exchanges.
  • U.S. Securities Restrictions: Shares will not be registered in the U.S.; any U.S. sales would be as restricted securities under Rule 144.
  • Independent Directors’ Assessment: Determined Nepra is in serious financial difficulty; conversion deemed reasonable and intended to improve financial position.
  • Material Change Report: Not filed 21 days prior because transaction structure was not finalized at that time.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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