Lorne Park Capital Partners Inc. announced That it has completed a non-brokered private placement of non-convertible and unsecured debentures for gross proceeds of CAD 2,939,000 on June 15, 2022. Pursuant to the transaction insiders of the company purchased CAD 550,000 of debentures. The debentures will bear an interest rate of 7% per annum and become payable on June 15, 2027.

The company also issued 734,750 warrants and each warrant entitles the holder to purchase one additional common share at a price of CAD 1.35 per share for a period of one year from the date of closing. The securities issued are subject to a hold period of four months expiring on December 16, 2019. The transaction is subject to approval of TSX Venture Exchange and Canadian Securities Exchange.