Cloud Nine Education Group Ltd. (CNSX:CNI) announced a non-brokered private placement of unsecured convertible debentures for gross proceeds of up to CAD 1,400,000 on July 5, 2017. Interest on the debentures shall be paid semi-annually in arrears at a rate of 12% per annum. The debentures will mature 18 months after the closing and will be convertible into common shares of the company at a conversion price of CAD 0.14 per share. The company has the right to convert the debentures into common shares of the company at the conversion price in the event the closing price of the company's common shares on the Canadian Securities Exchange is greater than CAD 0.28 for a period of 10 consecutive trading days. The securities are subject to to a four-month hold period from the date of issue under applicable Canadian securities laws. The transaction is subject to all necessary regulatory and stock exchange approvals.