Vancouver, Canada–(Newsfile Corp. – January 17, 2025) – Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48), a leader in Technology-as-a-Service (TaaS) and partner support, has completed the last phase of its private placement of unsecured convertible notes. This round has brought in total funds of C$1,173,000.
The final tranche raised C$449,000. These notes will earn 15% interest per year, maturing in 18 months. Holders can convert the notes into shares at C$0.08 for the first year and C$0.10 afterward. Each share comes with a two-year warrant, priced at C$0.10. Previous details were shared in a release on December 18, 2024.
The notes from this tranche will mature on July 16, 2026.
As part of the process, Turnium has set up finder’s fee agreements. Ventum Financial Corp. will receive a cash fee of C$4,830 and will also get 60,375 finder’s warrants, which are exercisable at $0.10 over two years. Overall, the company has distributed C$37,480 in cash and a total of 449,750 finder’s warrants related to this financing.
The funds will be used for general corporate needs and working capital.
These final tranche notes are not transferable and will have a hold period ending on May 18, 2025.
This announcement is not a solicitation to sell or buy securities in the U.S. These securities are not registered under U.S. law and cannot be offered or sold to U.S. persons unless properly registered or exempt.
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