Pool Safe Inc. (TSXV:POOL) announced a private placement of up to 500 convertible debenture units at a price of CAD 1,000 per convertible debenture unit for gross proceeds of up to CAD 500,000 on January 23, 2018. Each convertible debenture unit will consist of CAD 1,000 principal amount of 10% unsecured convertible debentures of the company. The convertible debentures will bear interest from the date of closing at 10% per annum, payable quarterly and will mature two years from the date that the convertible debenture units are issued. The convertible debentures will be convertible at the option of the holder into units of the company at any time prior to the close of business on the maturity date at a conversion price of CAD 0.11 per unit. Each unit is comprised of one common share of the company and one half of one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of two years following the date hereof at an exercise price of CAD 0.15 per warrant share, subject to adjustment in certain events. The company may pay finders' fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the transaction will be subject to a four-month hold period. The transaction is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange.