Qwick Media Inc announced a pre closing non brokered private placement of secured subordinated convertible debentures for gross proceeds of up to $1,000,000 on July 3, 2018. The debentures are issued at a face value of $1,000 per debenture. The debentures issued have a coupon rate of 9% per annum. The debentures will mature on June 30, 2021. The debentures are convertible into common shares of the company at a price of $0.08 per share. The transaction is subject to approval from Canadian Securities Exchange and shareholders of the company. The transaction is expected to close on or before September 30, 2018.