Bionik Laboratories Corp.: debt financing — Bionik Labs issues $250,000 convertible promissory note to existing stockholder

Bionik Laboratories Corp.

Issued convertible note for $250,000 to an existing stockholder, bearing 1% monthly interest.
Matures two years from April 20, 2023; converts on maturity at closing price or upon next equity financing.
Net proceeds to be used for working capital and general corporate purposes.
Note issued in reliance on Section 4(a)(2) and Regulation D/S exemption.

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

Bionik Laboratories Corp. incurred convertible notes of $250,000 at 1% per month maturing two year anniversary of the issue date.

Instrument: convertible notes
Principal: $250,000
Rate: 1% per month
Maturity: two year anniversary of the issue date
Event: incurrence

Exact text from the filing

On April 20, 2023, Bionik Laboratories Corp. (the “Company”) issued a convertible promissory note (the “Note”) and borrowed $250,000 (the “Loan”) from an existing stockholder of the Company (the “Holder”).

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Source: SEC EDGAR

accession 0001104659-23-050387

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