Ignite International Brands, Ltd. BILZ BILZF announced Tuesday that it has completed the second series of its non-brokered private placement of convertible debentures for aggregate gross proceeds of CA$10 million ($7.56 million).
The company said it plans to use the net proceeds from the offering for general corporate purposes.
Upon successful completion of the second series subscription, Ignite International said it decided to close the offering immediately, meaning the closing will occur before the fiscal year ends.
Today's Best Finance Deals
Related: Dan Bilzerian's Ignite International Sees Surge In Trading Volume
In the second series of the closed offering, each unit issued consisted of CA$1,000 principal amount of unsecured convertible debentures with 8% interest per annum and 250 subordinate voting share purchase warrants of the company. Units were sold for CA$1,000 per unit.
The maturity date of the convertible debentures is Dec. 10, 2022.
Ignite International shares were trading down 2.8% at $1.04 at the time of publication Wednesday.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving—don’t get left behind!
Curious about what’s next for the industry and how to stay ahead in today’s competitive market?
Join top executives, investors, and industry leaders at the Benzinga Cannabis Capital Conference in Chicago on June 9-10. Dive deep into market-shaping strategies, investment trends, and brand-building insights that will define the future of cannabis.
Secure your spot now before prices go up—this is where the biggest deals and connections happen!
