BANXA Closes CAD$3.79M Second Tranche of Convertible Debenture Financing

TORONTO and MELBOURNE, Australia, Nov. 15, 2023 (GLOBE NEWSWIRE) — Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) (“Banxa” or the “Company“) is pleased to announce that further to its news release dated October 10, 2023, it has raised gross proceeds of CAD$3.79M under the second tranche of its non-brokered private placement (the “Private Placement”) through the sale of convertible debenture units of the Company (the “Note Units”) comprised of unsecured convertible debentures of the Company (each, a “Note“) in the principal amount of CAD$3.79M and 1,897,013 common share purchase warrants in the capital of the Company (“Warrants”). Each Warrant is exercisable into one common share in the capital of the Company (a “Common Share”) at an exercise price of CAD$1.00 for a period of 36 months from the date of issuance. Banxa has raised CAD$5.54M to date in aggregate proceeds between the first and second tranche of its Private Placement. Please see the Company’s news release dated October 10, 2023 for additional details regarding the terms of the Private Placement.

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