Noveris Announces Conversion Of Debentures; Filing Of Early Warning Reports By JJK Holdings Ltd. And Joshua Bartch

Executive Summary

• Noveris Health Sciences Inc. converted debentures totaling $8,188,628 into 47,687,939 common shares at a conversion price of $0.192682432 per share.
• JJK Holdings Ltd.’s $7,878,792 debenture was converted into 40,890,039 shares, leaving JJK (through its subsidiary) with 3,848,706 shares (7.86% of outstanding).
• CEO Joshua Bartch converted his $1,309,836 debenture into 6,797,900 shares, now holding 6,827,419 shares (13.95% of outstanding).

Key Details

• Total Debentures Converted: $8,188,628 (principal amount)
• Conversion Price: $0.192682432 per share (20‑day trailing VWAP as of conversion date)
• Shares Issued on Conversion: 47,687,939 common shares
• Pre‑conversion Shares Outstanding: 1,235,061 common shares
• JJK Holdings Ltd.
• Debenture amount: $7,878,792
• Shares issued to JJK: 40,890,039 (prior to transfer)
• After transfer to 23 arm’s‑length parties and conversion, JJK (via subsidiary) holds 3,848,706 shares = 7.86% of total outstanding.
• Joshua Bartch (CEO & Director)
• Debenture amount: $1,309,836
• Shares issued to Bartch: 6,797,900
• Post‑conversion holding: 6,827,419 shares = 13.95% of total outstanding.
• Early Warning Disclosures (NI 62‑103):
• Prior illustrative conversion scenarios indicated potential ownership levels >90%; actual conversions resulted in substantially lower concentrations.
• Purpose of Conversions: Investment purposes for both JJK and Bartch; no change to control or operational direction disclosed.

Notable Quotes

(No direct quotes were provided in the release.)