ICEsoft Technologies Canada Corp (TSE:ISFT) has released an update.
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ICEsoft Technologies Canada Corp., a SaaS company known for its community alerting service and software used by thousands of developers and companies, is undertaking a non-brokered secured convertible debt financing to raise up to CAD $100,000, with the potential to convert existing debt up to an additional CAD $120,000. Convertible promissory notes will be issued with a 15% annual interest rate and a 36-month term, allowing note holders to convert debt into common shares at $0.05 each. The financing, which includes participation from the company’s CEO, is set to close by August 26, 2024.
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