CANADABIS ANNOUNCES CLOSING OF FIRST TRANCHE OF FINANCING FOR $2.6 MILLION

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CALGARY, AB, April 2, 2025 /CNW/ - CanadaBis Capital Inc. ("CanadaBis") (TSXV: CANB) is pleased to announce that it has closed the first tranche of the previously announced brokered private placement of 11% unsecured convertible debentures (the "Debentures") at a price of $1,000 per Debenture (the "Financing"). Closing of the first tranche consisted of the issuance of 2,620 Debentures for aggregate gross proceeds of $2,620,000.

Canadabis Capital Closes Tranche one of previously disclosed financing (CNW Group/CanadaBis Capital Inc.)
Canadabis Capital Closes Tranche one of previously disclosed financing (CNW Group/CanadaBis Capital Inc.)

Research Capital Corporation is acting as the sole agent and sole bookrunner in connection with the Financing (the "Agent").

The Debentures bear interest at a rate of 11.0% per annum from the date of issue, payable quarterly in arrears. Interest shall be paid in cash or common shares of the Company ("Common Shares") at the Company's sole discretion, subject to Exchange approval. The Debentures will mature on April 2, 2029 ("Maturity Date").

The principal amount of each Debenture shall be convertible, at the option of the holder, for no additional consideration, into Common Shares, following August 3, 2025, and prior to the Maturity Date at a Conversion Price equal to $0.10 per Common Share (the "Conversion Price"), subject to customary adjustments. The Debentures will be repaid in cash at the Maturity Date.

On and following the date that is five (5) months from the date of issuance of the Debentures, CanadaBis shall have the right to either partially or fully redeem the outstanding Debentures in cash at 105% of the outstanding principal amount of the Debenture at the time of redemption, plus accrued interest in cash, provided, however, that if the Debentures are redeemed before being outstanding for six (6) months, CanadaBis shall pay the holder all accrued and unpaid interest, plus an additional amount to ensure the holder receives at least six (6) months of interest on the principal amount being redeemed, net of any interest already paid.

The Debentures will be subject to a statutory hold period of four months and one day expiring on August 3, 2025. A second and final tranche of the Financing is expected to close in the following week, or such date as agreed upon between the Company and the Agent.

CanadaBis has granted the Agent an option (the "Agent's Option") to increase the size of the Financing by up to 15% of the Debentures, exercisable by giving written notice of the exercise of the Agent's Option, or a part thereof, to CanadaBis at any time up to 48 hours prior to the time of closing of the second and final tranche of the Financing.