Eight Solutions Inc. (DB:G82) announced a non-brokered private placement convertible debentures for gross proceeds of CAD 1,000,000 and 2,050,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 205,000, total gross proceeds of CAD 1,205,000 on August 20, 2018. The transaction will include participation from existing investor BID Group Technologies Ltd for CAD 1,000,000 and three other placees. The debentures carry a coupon of 6% per annum calculated annually and payable monthly with the first month commencing as of the date of closing. The debentures would mature in one year from the issuance and subject to the right the investor extend the maturity date by one year. The debentures are convertible into common shares of the company at a conversion price of CAD 0.15 per share. Any securities issued under the debenture financing will be subject to a statutory hold period of four months and one day from the date of issuance. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at an exercise price of CAD 0.20 per share for a period of 24 months from the date of closing. The warrants are subject to an acceleration clause wherein, in the event the company's shares trade at a price greater than CAD 1 per Share for a period of at least 30 consecutive trading days, the company may accelerate the expiry date of the warrants with reasonable written notice. TSX Venture Exchange has accepted for filing documentation with respect to the transaction. BID Group Technologies Ltd currently owns 2,421,591 common shares of the company, representing approximately 3.6% of the outstanding common shares of the company. Pursuant to the initial investment of the principal and assuming the immediate conversion of the debentures into 6,666,667 common shares, the investor would hold 9,088,258 common shares, representing 10.90% of the then outstanding common shares on a fully diluted basis. The securities issued are subject to a hold period of four months expiring on December 21, 2018. The company has received CAD 20,000 in funding from one investor pursuant to Regulation D.