infinitii ai inc. announces convertible debenture offering to fuel next phase of growth and extends its thanks to outgoing Director Vikas Ranjan [Yahoo! Finance]
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Source: Yahoo! Finance
VANCOUVER, BC June 25, 2024 /CNW/ - infinitii ai inc. ("infinitii ai", the "Company") (CSE: IAI) (FSE: 7C5) (OTC: CDTAF) is pleased to announce plans to raise up to through the issue of convertible debentures. The convertible debentures carry an interest rate of 10% per year, compounded semi-annually, mature 36 months from the date of issue and are convertible along with any accrued interest into Units (each a "Unit") at per Unit at any time before the maturity date. The Units consist of one common share in the capital of the Company (a "Share") and one share purchase warrant allowing the holder to purchase one Share at per Share for a period of 36 months from the issue of the Warrant. "This financing is going to be deployed as working capital for new business initiatives and payment of certain outstanding convertible debentures," said CEO Jean Charles Phaneuf . "Sales growth creates the need for working capital as we continue to attract new customers in the USA and Canada infini
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