BioNxt Solutions Secures $1.6 Million in Convertible Debenture Private Placement

BioNxt Solutions Inc. has closed the first tranche of a non-brokered private placement, raising $1.6 million through convertible debenture units. Each unit includes an 8% unsecured debenture and a common share purchase warrant. The debentures are convertible into common shares at $0.50 per share, maturing in two years, with interest payable at maturity.

Warrants are exercisable at $0.60 per share until February 2027. A cash fee of $128,000 and 256,000 finder warrants were issued to Canaccord Genuity Corp., exercisable at $0.50 per share until February 2027. The offering's proceeds will support product development, intellectual property, debt repayment, and working capital.