Financings
Turnium Provides Update on its Previously Announced Offering of Secured Debentures and Warrants
TTGI · Price
Executive Summary
- Turnium Technology Group Inc. completed the first tranche of its unit offering, raising $3.65 million in gross proceeds.
- Proceeds are earmarked for debt repayment, a $2 million upfront payment toward the proposed acquisition of Insentra, and various working‑capital items.
- The company extended the deadline to execute a definitive asset purchase agreement for the Insentra Acquisition to January 31 2026.
Key Details
- Offering Structure: 3,650 units at $1,000 each; each unit includes one secured non‑convertible debenture ($1,000) and 4,000 bonus warrants (exercise price $0.10).
- Gross Proceeds – First Tranche: $3,650,000 (remaining tranche of $1,000,000 expected by end‑Jan 2026).
- Debenture Terms: 16% simple annual interest; payable monthly after the 24th month, with a 12‑month amortization schedule starting month 25. Early pre‑payment penalties apply (additional 4 months’ interest if prepaid between months 13‑33).
- Bonus Warrants: Non‑transferable, exercisable for 36 months at $0.10 per share; subject to hold period of 4 months + 1 day and acceleration provisions if TSXV price ≥ $0.30 for ten consecutive trading days.
- Finder’s Compensation: Alto Capital received a cash fee of $120,000 and 1,200,000 non‑transferable finder’s warrants (exercise price $0.10) allocated to four named finders.
- Use of Proceeds:
| Category | Amount ($) |
|---|---|
| Repay existing secured loans | 592,323 |
| Upfront payment for Insentra acquisition | 2,000,000 |
| Insentra audit | 50,000 |
| Legal costs – Turnium | 475,000 |
| Accounts payable | 440,000 |
| FY 2025 audit | 150,000 |
| Sales & marketing | 100,000 |
| Research & development | 100,000 |
| Alto Capital finder’s fee | 120,000 |
| General working capital | 622,677 |
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Investor Allocation:
-
Investor 1 – $2,000,000 debenture / 8,000,000 warrants
- Investor 2 – $900,000 debenture / 3,600,000 warrants
- Investor 3 – $500,000 debenture / 2,000,000 warrants
- Investor 4 – $100,000 debenture / 400,000 warrants
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Investor 5 – $150,000 debenture / 600,000 warrants
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Insentra Acquisition Update: Amendment to the non‑binding LOI extends the term for signing a definitive asset purchase agreement to 31 Jan 2026. Completion remains subject to due diligence, negotiation of a definitive SPA, and regulatory/TSXV approvals.
- Regulatory Approval: Offering conditionally approved by the TSX Venture Exchange (TSXV).
Notable Quotes
(No direct CEO/President quotes were included in the release.)
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Jun 10, 2026 · 07:31