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The $3.265 million balance of its $5 million convertible debenture unit offering has been fully subscribed by a strategic industry investor.
VANCOUVER, BC, November 04, 2021 /24-7PressRelease/ -- Renaissance BioScience Corp. ("Renaissance"), a leading global bioengineering company, is pleased to announce that the $3.265 million balance of its $5 million convertible debenture unit offering ("Debenture") has been fully subscribed by a strategic industry investor and the debenture offering is now closed.
The Debenture matures on June 30, 2023 and is redeemable at maturity or convertible to common shares at any time prior to maturity, at the election of the Debenture subscriber. Each Debenture unit is comprised of one 12% convertible debenture with a principal amount of $1,000 and 500 common share purchase warrants. Each warrant will entitle the holder thereof to acquire one common share of Renaissance at a price of $1.50 per common share until the date which is 12 months after the first day Renaissance common shares are listed for trading on a recognized stock exchange. The convertible debenture is convertible to common shares of Renaissance at $1.25 per common share until June 30, 2022 and at $1.50 per common share during the period from July 1, 2022 until maturity on June 30, 2023.
About Renaissance BioScience Corp.
Based in Vancouver, Canada, Renaissance is an Environmental Impact company whose bioengineering platform technologies develop innovative, market-ready, functional microorganisms that provide solutions to a broad range of health, environmental and industrial problems. Detailed information about the Renaissance group of companies is available at www.renaissancebioscience.com.
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