---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-018125"
form_type: "8-K"
ticker: "BTCY"
cik: "0001630113"
company_name: "BIOTRICITY INC."
filed_at: "2023-05-18T23:59:59+00:00"
generated_at: "2026-06-14T21:17:40.716046+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Biotricity raises ~$1.22M net through convertible notes with 15% interest and warrants

## Summary
- Raised $1,218,930 net proceeds from $1,387,700 principal amount convertible notes at 15% interest, maturing one year from final closing.
- Notes convertible after 6 months at lower of 75% of 5-day VWAP or 80% of next qualified financing price.
- Investors received 4-year warrants exercisable at 200% of VWAP; exercise price adjusts if stock sold below.
- Shareholder approval obtained March 31, 2023, per Nasdaq rules for potential >20% issuance.
- Paulson Investment Company acted as placement agent with 10% cash fee and 8% warrant coverage plus $25K expense.

## SEC filing metadata
- accession: 0001493152-23-018125
- form_type: 8-K
- ticker: BTCY
- cik: 0001630113
- company_name: BIOTRICITY INC.
- filed_at: 2023-05-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1630113/000149315223018125/0001493152-23-018125-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1630113/000149315223018125/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-018125
- JSON: https://secwatch.observer/filing/0001493152-23-018125.json
- Plain text: https://secwatch.observer/filing/0001493152-23-018125.txt

## Key facts
- Material Agreements
  BIOTRICITY INC. entered into Subscription Agreements with certain accredited investors (the "Investors") valued at aggregate net proceeds of $1,218,930 and a total Note principal of $1,387,700 (effective 2023-03-01).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain accredited investors (the "Investors")
  - Value: aggregate net proceeds of $1,218,930 and a total Note principal of $1,387,700
  - Effective: 2023-03-01
  source text: On March 1, 2023, through May 12, 2023, Biotricity Inc. (the “Company”) entered into subscription agreements (the “Subscription Agreements”) with certain accredited investors (the “Investors”) for the sale to the Investors of convertible promissory notes (the “Notes”) and warrants to purchase shares of common stock (the “Warrants”, and together with the Notes, the “Securities”) that resulted in an aggregate net proceeds of $1,218,930 and a total Note principal of $1,387,700 in a private placement (the “Private Placement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1630113/000149315223018125/0001493152-23-018125-index.htm

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