IZON Network, Inc. (OTCPK:IZNN) announced a private placement of convertible debentures for gross proceeds of up to CAD 7 million on October 10, 2019. The debentures have a maturity of 24 months from the closing date and bear an interest rate of 10% per annum. The debentures are convertible into common shares of the company. The debentures are subject to a bonus provision, pursuant to which the principal amount of each of the debentures will be increased. All securities issued are subject to a hold period.