Grey Matters Closes First Tranche of $600,000 of its Equity and Convertible Debenture Private Placement
Grey Matters Health closed the first tranche of its non-brokered private placement, raising CAD $600,000 gross — $285,000 from 712,500 equity units priced at $0.40 and $315,000 from convertible debenture units. The debentures carry a 10% annual interest rate, mature in 24 months, and convert at $0.455 per share; equity unit warrants strike at CAD $0.60 and debenture warrants at $0.55, each with 36-month terms. An insider participated for CAD $35,000, a related party transaction under MI 61-101 with no advance material change report filed. Proceeds go toward advancing the Alzheimer's Disease program, including opening a U.S.
Key figures
- Offering Price
- 0.4
- Shares Offered
- 712500
- Currency
- CAD
- Hold period
- four months plus a day
- Finders fees
- 14800
- Rsus granted
- 100000
- Finder warrants
- 2000
- Equity units proceeds
- 285000
- Insider participation
- 35000
- Warrant exercise price
- CAD $0.60, 36-month term
- Debenture interest rate
- 10% per annum, semi-annual, 24-month maturity
- Debenture units proceeds
- 315000
- Debenture conversion price
- 0.455
- Debenture warrants per unit
- 2198
- Debenture principal per unit
- $1,000
- First tranche gross proceeds
- 600000
- Debenture warrant exercise price
- $0.55, 36-month term
AI analysis
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