debt
confidence high
sentiment neutral
materiality 0.55
Tego Cyber raises $135K net via convertible note with 10% interest and variable conversion price
Tego Cyber, Inc.
- Entered funding transaction with District 2 Capital Fund LP for $150,000 ($135,000 net) via promissory note with $15,000 OID.
- Note carries 10% interest, matures January 12, 2023, with possible 6-month extension at 15% interest.
- Convertible after 180 days at lower of lowest trading price in prior 20 trading days; 1.2M shares reserved.
- Proceeds used for working capital; issuances exempt under Rule 506(b) and Section 4(a)(2).