BioNxt Solutions Proposes Convertible Debenture Unit Offering

Vancouver-based BioNxt Solutions Inc. has announced its plan for a non-brokered private placement of convertible debenture units. Each unit, priced at $0.60, comprises of an 8.0% unsecured convertible debenture and one common share purchase warrant. The goal is to raise up to $1.2 million in gross proceeds.

The debentures have a conversion option at $0.60 per common share, with a maturity period of two years. Warrants allow purchasing a common share at $0.75 each, valid for the same duration. The company plans to utilize the funds for product development, intellectual property, and working capital.

Eligible finders might receive a cash fee and broker warrants of up to 8% of the debenture units sold. The issuance is subject to statutory hold of four months plus one day.