Till Capital Corporation announced a private placement of convertible note of CAD 0.2 million on March 29, 2023. The convertible note will mature 12 months from its date of issuance and will bear interest at a rate of 1.25% per month up to and including three month from its date of issuance thereafter, 1.75% per month from until six months from its date of issuance thereafter, 2% per month from September 29, 2023 to maturity. Interest on the convertible note will be compounded monthly.

The convertible note is convertible into common shares of the company on maturity at the holder's option at CAD 5.48. Interest accrued on the convertible note may be paid in shares at the election of the holder but will be subject to TSXV approval. The convertible note and any shares issued in payment of interest will be subject to a four-month resale restriction from their respective dates of issuance.