Orgenesis subsidiary enters $1M convertible loan; lender can convert to 80% equity, plus $10M facility

Orgenesis Inc.

Initial loan $1M at 10% simple interest, 36-month maturity; after 30 days lender can convert to up to 80% of Orgenesis or Theracell equity.
Lender receives warrant to purchase 15% fully diluted shares for $250,000, exercisable for 3 years.
Credit facility up to $10M, with $7.1M already drawn; used to repay $6.1M in prior debt to Newtech and Ariel Malik.
Lender may appoint three board members after 30 days, subject to regulatory approvals and shareholder meeting.
If shareholder approval for share issuance not obtained within 60 days, lender gets option to acquire CellVira and Tissue Genesis assets at no cost.

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