Herbal Dispatch Inc. announced that it has issued an unsecured convertible debenture in the principal amount of CAD 938,000 for gross proceeds of CAD 938,000 on December 15, 2023. The transaction included participation from directors. The company also amended the terms of a convertible debenture in the principal amount of CAD 438,000 owing to another director of the company. The debenture bears interest at an annual rate of 14% per annum, payable monthly, and matures on January 31, 2025. The transaction is subject to the approval of the Canadian Securities Exchange. The debenture will also be convertible, at the holder?s option into common shares of the company at a price of CAD 0.05 per share, and at the it?s election, during any period where the trading price of the it?s common shares is CAD 0.10 or greater for a period of 20 consecutive trading days.

The company issued principal amount of CAD 500,000 to a director of the company in its first tranche.