AgriForce raises $7M via convertible debentures with warrants; up to $50M total available

AVAX ONE TECHNOLOGY LTD.

Initial $7.7M principal (10% OID, net $7M) of 5% senior secured convertible debentures sold to institutional investors.
Conversion price set at $2.62 per share; debentures due in 12 months, extendable 6 months at 8% interest.
Investors receive 3.5-year warrants with 65% coverage at $2.882 exercise price, subject to anti-dilution ratchet.
Monthly amortization starts Apr 1, 2025; Company can pay in cash or stock if equity conditions met.
Officers and directors enter 1-year lock-up; registration rights agreement requires S-1 within 30 days.

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