Cannibble arranges $250,000 (U.S.) note financing

Executive Summary

• Cannibble Food‑Tech Ltd. announced a non‑brokered private placement of up to US$250,000 (CAD $350,875) aggregate principal amount of convertible notes together with common share purchase warrants.
• The notes bear 15% annual interest, mature in 12 months, and are convertible at US $0.01 per share; warrants are exercisable at US $0.05 per share for five years.
• Proceeds will be used to settle outstanding supplier debts and fund working capital, with no broker commissions or related‑party fees expected.

Key Details

• Offering Size: Up to US $250,000 (CAD $350,875) principal amount of convertible notes.
• Unit Structure: Each unit consists of a US $1,000 (CAD $1,403.50) convertible note plus warrants equal to 50% of the note’s principal amount.
• Interest Rate: 15% per annum on the convertible notes.
• Maturity: 12 months from issuance date.
• Conversion Price: US $0.01 per common share.
• Warrant Exercise Price: US $0.05 per common share; exercisable for five years from issuance.
• Optional Forced Conversion / Buy‑back: If the market price exceeds US $0.25 per share before maturity, Cannibble may (i) force conversion of outstanding notes or (ii) repurchase the notes (principal + accrued interest) at twice the then‑outstanding amount.
• Ownership Cap: No issuance that would cause any holder (or concert parties) to own >9.99% of outstanding common shares after conversion/exercise.
• Use of Proceeds: Settlement of outstanding supplier debts and general working capital.
• Fees: No commissions, broker fees, or related‑party transactions anticipated.
• Statutory Hold Period: All securities issued are subject to a four‑month‑and‑one‑day hold period under applicable securities laws.

Notable Quotes

(No executive quotes were provided in the release.)