Bruush Oral Care Inc. completed two significant financing transactions in January 2024. The company closed a private placement on January 1, 2024, with Generating Alpha Ltd., raising $500,000 through the issuance of a pre-funded common share purchase warrant exercisable for 16,500,000 common shares at $0.001 each. Additionally, Bruush Oral Care agreed to file a registration statement for these shares within 45 days post-closing. On the same day, the company also entered into a convertible note financing agreement with Generating Alpha Ltd. for up to $6 million, with an initial funding of $1.5 million received on January 5, 2024. The note, maturing in one year with an interest rate of 12% or WSJ Prime Rate plus 3.5%, is convertible into common shares at a price of $0.1625 per share or 80% of the lowest...Show More

Bruush Oral Care Inc. completed two significant financing transactions in January 2024. The company closed a private placement on January 1, 2024, with Generating Alpha Ltd., raising $500,000 through the issuance of a pre-funded common share purchase warrant exercisable for 16,500,000 common shares at $0.001 each. Additionally, Bruush Oral Care agreed to file a registration statement for these shares within 45 days post-closing. On the same day, the company also entered into a convertible note financing agreement with Generating Alpha Ltd. for up to $6 million, with an initial funding of $1.5 million received on January 5, 2024. The note, maturing in one year with an interest rate of 12% or WSJ Prime Rate plus 3.5%, is convertible into common shares at a price of $0.1625 per share or 80% of the lowest volume-weighted average price of the ten trading days prior to conversion. The note includes full ratchet anti-dilution protections and additional terms in the event of default. EF Hutton LLC served as the placement agent for the financing. The company is required to file an initial registration statement for the convertible note within 30 days following January 1, 2024.