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Planet Mining Exploration ( (TSE:PXI) ) has shared an announcement.
Planet Ventures Inc. has increased its convertible debenture financing from CAD $5,000,000 to CAD $6,000,000, with the company’s CEO, Etienne Moshevich, and a strategic investor subscribing for the entire amount. This move is part of Planet Ventures’ strategy to capitalize on the expanding Bitcoin treasury landscape, and the financing is expected to close by August 15, subject to regulatory approvals. The debentures offer a 12% annual interest rate and are convertible into common shares at a price of $0.50 per share. The participation of insiders in the offering constitutes a related party transaction, but the company plans to rely on exemptions from certain regulatory requirements.
More about Planet Mining Exploration
Planet Ventures Inc. is an investment issuer that focuses on acquiring Bitcoin.
Average Trading Volume: 648,183
Technical Sentiment Signal: Buy
Current Market Cap: C$28.68M
Find detailed analytics on PXI stock on TipRanks’ Stock Analysis page.