CENTR Brands Corp. announced a non-brokered private placement of of up to 100 unsecured convertible debentures at a price of CAD 1000 per debenture in the aggregate principal amount of CAD 100,000 for the gross proceeds of CAD 100,000 on June 24, 2024. The debentures will bear interest from the date of issuance at a rate of 10% per year, calculated and payable annually, and will mature on the date that is 12 months from the date of issuance.

The principal amount of the debentures, together with any accrued and unpaid interest, may be converted, in whole or in part, at any time before the maturity date into equity securities of the company, at the election of the holder, in whole or in part, at a conversion price equal to the greater of the market price or the offering price of the company's first equity financing following the closing date, subject to the approval of the exchange. The closing of the offering is subject to a number of conditions, including the receipt of all necessary corporate and regulatory approvals, including that of the CSE. The securities issued in connection with the offering will be subject to applicable statutory hold periods imposed under applicable securities legislation.

The offering is not subject to a minimum aggregate amount of subscriptions and may close in more than one tranche.