2023-04-14 08:32:25 ET
- PharmaDrug ( OTCQB:LMLLF ) has announced that it has raised $0.1M through the sale of debenture units.
- Each unit is comprised of a $1,000 principal amount convertible secured debenture and 20,000 common share purchase warrants.
- Each Debenture bears interest at a rate of 15% per annum payable monthly in arrears, matures one year from the date of issue and is convertible into common shares at a price of $0.05
- The Co. has agreed that 50% of the proceeds realized from the sale of the consideration received from the sale of Pharmadrug GmbH to Khiron Life Sciences will be paid to the holders of the debentures.
- The net proceeds from the offering will be used for working capital purposes.
For further details see:
PharmaDrug announces non-brokered offering of $0.1M of convertible secured debentures