Delic Holdings (CSE: DELC) (OTCQB: DELCF) (FRA: 6X0), a leader in new medicines and treatments for a modern world, has completed the sale of 1,240 units, with each unit consisting of one 4% senior secured $1,064 principal amount convertible debenture and 16,369 share purchase warrants. The sale, which was resulted in gross proceeds of $1,240,000 for the company, was completed on July 27, 2022. According to the announcement, the principal amount and accrued but unpaid interest on each debenture is convertible into common shares of the company; that conversion is done at the option of the holder at any time following the closing date at a price of $0.065 per common share. The company noted that the debentures will mature 24 months from the closing date and will bear interest at a rate of 4% per annum, payable quarterly on the last business day of each calendar quarter. The announcement also noted that all outstanding principal amounts along with all unpaid interest must be repaid at the maturity date. The company also observed that all securities issued in the debenture offering are subject to a hold period of four months and one day from the closing date. Delic intends to use the proceeds from the debenture for expansion and general corporate purposes.
To view the full press release, visit https://ibn.fm/xWe3N
About Delic Holdings
Delic is a leader in new medicines and treatments for a modern world, improving access to health benefits across the country and reframing the conversation on psychedelics. The company owns and operates an umbrella of related businesses, including Ketamine Wellness Centers, the largest chain of psychedelic wellness clinics in the country; Delic Labs, the only licensed entity by Health Canada to exclusively focus on research and development of psilocybin vaporization technology; Meet Delic, the premier psychedelic wellness event; and trusted media and e-commerce platforms Reality Sandwich and Delic Radio. Delic is backed by a team of industry and cannabis veterans and a diverse network, whose mission is to provide education, research, high-quality products and effective treatment options to the masses. For more information about the company, visit www.DelicCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to DELCF are available in the company’s newsroom at https://ibn.fm/DELCF
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