BIOTRICITY INC. (BTCY): debt financing — Biotricity receives $2M from investor, plans 18-month promissory note at 10% interest

BIOTRICITY INC.

Received $2M in cash from an existing investor on January 23, 2023.
Expects to issue an 18-month promissory note with 10% accrued interest.
Final documentation is being finalized; note will contain customary provisions.

item 2.03

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

BIOTRICITY INC. incurred loan of $2,000,000 with an existing investor at 10% maturing 18-months.

Instrument: loan
Principal: $2,000,000
Counterparty: an existing investor
Rate: 10%
Maturity: 18-months
Event: incurrence

Exact text from the filing

On January 23 rd . 2023, Biotricity Inc. (the “Company”) received $2,000,000 in cash proceeds from an existing investor. The Company and the investor are in the process of finalizing the final documentation but Company expects to issue the investor a promissory note with matures in 18-months and has an accrued interest rate of 10%.

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Source: SEC EDGAR

accession 0001493152-23-002805

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