Cloud Nine Education Group Ltd. (CNSX:CNI) announced a non-brokered private placement of secured convertible debentures for gross proceeds of CAD 1,199,600 on January 18, 2021. The debentures have a maturity date of one year from the date of issuance and the principal amount of the debenture, together with any accrued and unpaid interest, will be payable on the maturity date, debenture bears interest at the rate of 5% per annum, which Interest will be payable on the maturity date, unless earlier converted; and the principal amount of a Debenture, together with all accrued and unpaid interest thereon, is convertible into units of the company at the option of the holder at a conversion price of CAD 0.06 per debenture unit, with each debenture unit comprised of one common share of the company and one transferable share purchase warrant with each debenture warrant exercisable into one additional debenture share at an exercise price of CAD 0.07 per debenture warrant share for a period of two years from the date of conversion. Repayment by the company of amounts owing under the debentures is secured by a charge over all of the assets of the company. All subscribers to the debenture financing entered into an agency and inter-lender agreement with the company, pursuant to which the subscribers have appointed an agent to act on their behalf as to certain matters relating to the debentures, including with respect to enforcement of the security interest.