Odd Burger Plans Major Financial Initiative with Convertible Debentures
Odd Burger's Exciting Financial Announcement
Odd Burger Corporation is embarking on an exciting new financial initiative by proposing a private placement aiming to raise up to CAD $4 million through the issuance of convertible debentures. This strategic move will support their growth and further expansion plans in the fast-food industry.
Details of the Private Placement
The company plans to issue up to 4,000 unsecured convertible debentures, each valued at CAD $1,000. This could result in significant gross proceeds totaling up to CAD $4 million as the company capitalizes on the strong demand for sustainable fast food options.
Terms of the Convertible Debentures
Each convertible debenture is set to mature 36 months from the offering date, with a conversion price of CAD $0.25 per common share. Investors will benefit from a competitive interest rate of 15% per annum, payable upon maturity, making this an attractive opportunity for those looking to support innovative food solutions.
Potential for Immediate Conversion
Odd Burger has structured the offering with ample opportunities for conversion into common shares, contingent upon the shares averaging more than CAD $0.35 over a designated trading period. This approach demonstrates the company's confidence in its growth trajectory and the increasing popularity of plant-based eating.
Usage of Funds
The net proceeds from this offering will be dedicated to several growth initiatives, including expanding franchise operations and enhancing the distribution of Odd Burger's proprietary food products. The company is committed to developing its real estate projects, which will serve as hubs for its innovative food service model.
About Odd Burger Corporation
Odd Burger is not just any fast-food chain—it is revolutionizing the industry with its commitment to plant-based, vegan cuisine. By leveraging cutting-edge food technology and automation, Odd Burger delivers a unique and sustainable customer experience. With a focus on health and quality, this company is reshaping perceptions of fast food.
Valuable Investments for a Greener Future
Investing in Odd Burger is not merely about financial gain; it's about being part of a movement towards more responsible and healthier food choices. With its multiple locations and innovative approach, the company stands poised to make a significant impact in both local and global markets.
Frequently Asked Questions
What is the purpose of Odd Burger's private placement?
The private placement aims to raise funds for expanding franchise operations, enhancing product distribution, and developing new real estate projects.
What are the terms of the convertible debentures?
Each debenture will mature in 36 months with a conversion price of CAD $0.25 and will accrue 15% interest, payable upon maturity.
How does the conversion of debentures work?
Debentures can be converted into common shares if shares meet the required trading price of over CAD $0.35 for a defined period.
What is the significance of Odd Burger's business model?
Odd Burger's model combines fast food convenience with health-conscious choices, utilizing technology to create a sustainable dining experience.
Where can I find more information about Odd Burger?
For further information, you can visit Odd Burger's official website, where they provide extensive details about their operations and offerings.
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