Highmark Interactive Inc. Closes Convertible Note Financing

TORONTO, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Following the news release issued on August 12, 2022, Highmark Interactive Inc (HMRK:V) wishes to announce the closing of a CDN$600,000 8% convertible note (“Note”) paid semi-annually for a term of two years with a conversion price based on future equity issuance. Purchasers of the Note are management and directors and the company is relying on the exemption in Section 5.7(1)(a) of MI 61-101. The price at which the Note may be converted will not be less than the greater of (i) $0.09 and (ii) the offering price of an equity financing in year one of the Note and (i) $0.10 and (ii) the offering price of an equity financing in year two of the Note. This private placement is subject to final approval of the TSX Venture Exchange.

Read more at globenewswire.com