---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-072286"
form_type: "8-K"
ticker: null
cik: "0001508381"
company_name: "Bionik Laboratories Corp."
filed_at: "2023-06-16T23:59:59+00:00"
generated_at: "2026-06-13T22:35:09.316905+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Bionik explores 'going dark', cost-cutting; launches up to $2M debt offering

## Summary
- Private offering of convertible notes up to $2M; initial $220k from Chairman affiliate Andre-Jacques Auberton-Herve.
- Directors convert $108,333 each in accrued fees into promissory notes with 1% monthly interest.
- Exploring cost-cutting including possible 'going dark' by suspending SEC filings, reducing board, headcount, and facility space.
- Outstanding notes converted into 4,083,544 shares; 3.1M shares to director affiliate.
- Company considers sale or restructuring; net proceeds from offering for working capital.

## SEC filing metadata
- accession: 0001104659-23-072286
- form_type: 8-K
- cik: 0001508381
- company_name: Bionik Laboratories Corp.
- filed_at: 2023-06-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1508381/000110465923072286/0001104659-23-072286-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1508381/000110465923072286/tm2318913d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-072286
- JSON: https://secwatch.observer/filing/0001104659-23-072286.json
- Plain text: https://secwatch.observer/filing/0001104659-23-072286.txt

## Key facts
- Debt Financings
  Bionik Laboratories Corp. incurred convertible notes of $108,333 of accrued director fees due and owing to each of them with Audrey Frederique Thevenon, and on June 16, 2023, Joseph Martin, each a director of the Company at 1% per month maturing the earlier of (a) the 10-year anniversary of the issue date, (b) such date that the Company generates at least $10 million in annual revenues and (c) the consu.
  - Instrument: convertible notes
  - Principal: $108,333 of accrued director fees due and owing to each of them
  - Counterparty: Audrey Frederique Thevenon, and on June 16, 2023, Joseph Martin, each a director of the Company
  - Rate: 1% per month
  - Maturity: the earlier of (a) the 10-year anniversary of the issue date, (b) such date that the Company generates at least $10 million in annual revenues and (c) the consu
  - Event: incurrence
  source text: On June 14, 2023, Audrey Frederique Thevenon, and on June 16, 2023, Joseph Martin, each a director of the Company, agreed to convert $108,333 of accrued director fees due and owing to each of them (the “Accrued Director Fees”), into a promissory note (each, “Director Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1508381/000110465923072286/0001104659-23-072286-index.htm
- Debt Financings
  Bionik Laboratories Corp. incurred convertible notes of up to $2,000,000, with an initial subscription of $220,000 with an affiliate of the Company’s Chairman, Andre-Jacques Auberton-Herve at 1% per month maturing June 1, 2024.
  - Instrument: convertible notes
  - Principal: up to $2,000,000, with an initial subscription of $220,000
  - Counterparty: an affiliate of the Company’s Chairman, Andre-Jacques Auberton-Herve
  - Rate: 1% per month
  - Maturity: June 1, 2024
  - Event: incurrence
  source text: On June 13, 2023, Bionik Laboratories Corp. (the “Company”) launched a new private offering (the “Private Offering”) of its convertible promissory notes (the “Notes”) of up to $2,000,000, with an initial subscription of $220,000 from an affiliate of the Company’s Chairman, Andre-Jacques Auberton-Herve (the “Holder”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1508381/000110465923072286/0001104659-23-072286-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.