Trichome Financial Corp. (CNSX:TFC) announced a non-brokered private placement of convertible debentures for an aggregate gross proceeds of CAD 5,000,000 on July 23, 2020. Each convertible debenture will consists of one unsecured convertible debenture of the principal amount of CAD 1,000. The debentures will bear fixed rate of interest of 9% per annum payable quarterly in arrears until maturity. The debentures will mature within 24 months from the closing of the transaction. The debentures are convertible into common shares of the company at the option of the holder into common shares of the company at a conversion price of CAD 1.30 per share at any time prior to the close of business on the business day immediately preceding the maturity date. The company will also have a right to require the holders to convert all the principal amount of the then outstanding convertible debentures at a conversion price if the five-day volume weighted average price of the common shares is equal to or greater than 130% of the conversion price. The transaction is expected to close within first two weeks of August 2020.