Cannibble expects to raise $191,577 (U.S.) in financing

Executive Summary

• Cannibble Food‑Tech Ltd. announces it will close a non‑brokered private placement of $191,577 USD in convertible notes (plus warrants) on March 9 2026.
• Each unit consists of a US$1,000 convertible note bearing 15% interest, maturing in 12 months, convertible at C$0.01 per share, and warrants for up to 3,508,750 common shares exercisable at C$0.05 for five years.
• Proceeds are earmarked to settle supplier debts and fund working‑capital needs; the placement is undertaken under a shareholder‑approval exemption due to serious financial difficulty.

Key Details

• Aggregate amount: $191,577 USD (U.S.) – the portion of commitments received while price protection was in effect.
• Unit composition:
• US$1,000 (US) / C$1,403.50 principal convertible note.
• Warrants covering up to 3,508,750 common shares (equivalent to 50% of the note’s principal).
• Convertible note terms:
• Interest rate: 15% per annum.
• Maturity: 12 months from issuance date.
• Conversion price: C$0.01 per common share.
• Warrant terms:
• Exercise price: C$0.05 per common share.
• Exercise window: 5 years from issuance.
• Optional conversion/buy‑back trigger: If the market price exceeds C$0.25 before maturity, Cannibble may (i) force conversion of outstanding notes or (ii) repurchase them at twice the then‑outstanding amount (principal + accrued interest).
• Shareholder concentration limitation: No issuance that would cause any holder (or concert party) to exceed 9.99% of outstanding common shares without consent.
• Regulatory exemption: Relies on CSE Policy 4 Section 4.6(2)(b) to forego shareholder approval, justified by:
• Serious financial difficulty.
• Completed agreement with investors (no related‑person participation).
• Approval by a majority of independent directors deeming the placement in the best interests of the issuer and not feasible to obtain security‑holder consent.
• Use of proceeds: Settlement of outstanding supplier debts and general working capital.
• Fees: No commissions, broker fees, or related‑party transactions incurred.
• Statutory hold period: All securities issued are subject to a four‑month‑and‑one‑day statutory hold period per applicable securities laws.

Notable Quotes

(No direct quotes were provided in the release.)