Kiaro To Raise $3M Via Marketed Private Placement of Senior Unsecured Convertible Debenture Units

retailer and distributor Kiaro Holdings Corp. (TSXV: KO) is poised to raise $3 million through a marketed private placement of 3,000 senior unsecured convertible debenture units at $1,000 per debenture unit.

Based in Vancouver, Kiaro said Thursday that it has tapped a capital corporation as lead agent and sole book-runner on behalf of a syndicate of agents to sell the debenture units.

Each debenture unit consists of one 8% senior unsecured convertible debenture having a face value of $1,000 and convertible into common shares of Kiaro $0.13 per share that will mature three years following the closing date, and 3,846 of Kiaro's common share purchase warrants with each granting the holder rights to purchase one common share at $0.16 share over the same time.

If the …

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