Legible Inc. Launches Convertible Debenture Offering

Legible Inc. (TSE:READ) has released an update.

Legible Inc. has announced a non-brokered private placement offering of convertible debenture units to raise up to $1,170,000 for product development, marketing, and general capital. Each unit, priced at $0.09, includes a 14% interest-bearing debenture and warrants to purchase common shares, with provisions for interest payment in shares and potential warrant expiry acceleration. The company may also increase the offering beyond the initial amount and pay finder’s fees of up to 8%.

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