Credissential Announces Convertible Note Financing

Executive Summary

• Credissential Inc. announced a non‑brokered private placement of convertible notes for up to $500,000 in gross proceeds.
• The notes mature 12 months after closing and are convertible at $0.05 per common share (or lower if permitted).
• Concurrently, the company granted 7,000,000 Restricted Share Units (RSUs) to certain consultants under its Omnibus Equity Incentive Plan, subject to a four‑month hold period plus one day.

Key Details

• Offering Size: Up to $500,000 gross proceeds from the private placement of unsecured convertible notes.
• Conversion Price: $0.05 per common share (or lower as allowed by CSE policies).
• Maturity: 12 months after each closing date.
• Use of Proceeds: General corporate and working‑capital purposes; no finder’s fees anticipated.
• Subscription Agreements: Each note issued pursuant to a separate subscription agreement; notes are unsecured debt obligations.
• RSU Grant: 7,000,000 RSUs granted to consultants under the Omnibus Equity Incentive Plan adopted 23 Feb 2024.
• RSU Vesting/Hold Requirements: Standard four‑month hold period plus one day before any disposition.
• Governance: Convertible notes governed by their respective subscription agreements; securities subject to applicable securities laws.

Notable Quotes

(No executive quotes were included in the release.)