Elys BMG Group, Inc.: debt financing — Elys Game Technology closes $2.9M private placement of 12% convertible debentures and warrants

Elys BMG Group, Inc.

Sold 2,876 units at $1,000 each for total proceeds of $2.876M; each unit has a 12% convertible debenture and warrants.
Debentures convertible at $0.40/share (Gold Street at $0.42), mature in 3 years; warrants exercisable at same prices for 5 years.
Investors include related parties: Gold Street Capital (spouse of Executive Chairman) and Braydon Capital (brother of Chairman).
Proceeds will fund working capital for launch of U.S./Canadian online channel and mobile app.
Debentures are secured by a senior security interest in all company assets.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Elys BMG Group, Inc. incurred convertible notes of $2,876,000 with Gold Street Capital Corp., Braydon Capital Corp., and other accredited investors at 12% per annum maturing three years from the date of issuance.

Instrument: convertible notes
Principal: $2,876,000
Counterparty: Gold Street Capital Corp., Braydon Capital Corp., and other accredited investors
Rate: 12% per annum
Maturity: three years from the date of issuance
Event: incurrence

Exact text from the filing

The Investors purchased a total of 2,876 units and the Company issued Debentures for the total principal amount of $2,876,000 (the "Principal Amount") to the Investors and warrants to purchase 6,951,905 shares of common stock of the Company. The Debentures mature three years from their date of issuance and bear interest at a rate of 12% per annum compounded annually and payable on the maturity date.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Elys BMG Group, Inc. entered into Subscription Agreement with a group of accredited investors valued at $2,876,000 (effective 2023-07-11).

Action: entry
Agreement: equity purchase
Counterparty: a group of accredited investors
Value: $2,876,000
Effective: 2023-07-11

Exact text from the filing

On July 11, 2023 (the "Closing Date"), Elys Game Technology, Corp. (the "Company") closed a private placement offering of up to 3,000 units and entered into a Subscription Agreement (the "Agreement") with a group of accredited investors

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Source: SEC EDGAR

accession 0001017386-23-000271

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