BnSellit Technology Inc. announces the change of directors and the closure of the first tranche of private placement

CALGARI, AB / ACCESSWIRE / June 13, 2022 / BnSellit Technology Inc. (“BnSellit“or”Corporation) (CSE: BNSL) announces that Mr. Doug McCartney and Mr. Colin Cady have been elected to the Board of Directors of the Corporation’s Annual General Meeting.

BnSellit Technology Inc., Monday, June 13, 2022, photo of the press release

Doug McCartney is a business lawyer and director of business law at Moodys Private Client Law LLP. Doug is an internationally respected business lawyer with over 24 years of experience in business law, primarily in the areas of corporate finance, corporate governance and mergers and acquisitions.

Colin Cady, CEO of Synergy Family Office, has built a reputation as a leader in Canada’s financial sector for more than 20 years. He specializes in developing personalized, comprehensive wealth management strategies for clients.

After the annual general meeting, the corporation’s directors are Antonio Comparelli, John Napier, James Chepiha, Doug McCartney and Colin Cady.

“I am excited that Doug McCartney and Colin Cady will join the corporation as it continues to grow. I would like to thank Mr. Paul Shelley and Ms. Charlotte Jansen, who did not run for re-election to the Annual General Meeting for their contributions as directors, and I wish them success in their future endeavors, “said Tony Comparelli, CEO. BnSellit Technology Inc.

Closing of the first tranche of private placement

The Corporation is also pleased to announce that it has completed the first tranche of a private placement through unsecured convertible bonds with a total principal of $ 100,000 (“Convertible bonds“) at a price of USD 1000 for the principal amount of the convertible bonds”Offering“).

Convertible bonds bear interest from the closing date at 10% per annum, payable monthly in arrears of 30you day of each calendar month beginning on 30 June 2022. The convertible bonds will mature after 18 months from the date of issue of the convertible bonds (“Maturity date“). The convertible bonds will be convertible at the option of the holders into ordinary Class A shares of the Corporation (“Shares“) at a conversion price of $ 0.25 per shareCost per conversion“) at any time before the end of the activity on the due date.

If after the close of the Offering and before the maturity date, the volume-weighted average price of the Shares on the Canadian Stock Exchange (“CSE“) for 10 consecutive trading days equal to or exceeding $ 0.60, the Corporation may compel the conversion of the entire principal amount of the convertible bonds at the conversion price after giving the holders of convertible bonds 15 days’ written notice in accordance with conditions for conversion.

All securities issued under this tranche of the Offering are subject to the applicable statutory retention period ending on October 10, 2022. The Offering is subject to approval by the CSE.

For more information, please contact:

Antonio Comparelli, CEO
Email: [email protected]
Tel: 416-720-8677

Sian Bolton, Chief Financial Officer
Email: [email protected]
Tel: 403-700-6466

Neither CSE nor its regulatory service provider (as this term is defined in CSE policies) assumes responsibility for the adequacy or accuracy of this publication.

SOURCE: BnSellit Technology Inc.

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