BioNxt Solutions Closes First Tranche of Debenture Placement

BioNxt Solutions Inc. has successfully closed the first tranche of a non-brokered private placement of convertible debenture units, raising $1,009,200. Each unit was priced at $0.60, consisting of 8.0% unsecured convertible debentures and a common share purchase warrant. Holders of warrants can acquire a common share at $0.75 within two years. The debentures can be converted into common shares at $0.60 until maturity. The raised capital is intended for product development, intellectual property, and working capital.

Additionally, a cash finder fee of $80,736 and 134,560 finder warrants were issued to Canaccord Genuity Corp. The securities are under a hold period until November 26, 2025, as per Canadian regulations.