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TORONTO, ONTARIO--(Marketwired - Feb. 8, 2016) - Xylitol Canada Inc. ("Xylitol Canada", or the "Company") (TSX VENTURE:XYL) is pleased to announce a proposed offering of convertible debentures (the "Debentures"), on a private placement basis, for aggregate gross proceeds of up to $3,000,000 (the "Offering"). The Debentures will accrue interest at a rate of 10% per annum with a maturity date that is three years from the date of issuance, subject to automatic conversion and redemption as described below. The principal amount of each Debenture and all accrued and unpaid interest thereon will be convertible into common shares of the Company (the "Common Shares") at a price per Common Share of $0.10. The Offering is subject to approval of the TSX Venture Exchange (the "Exchange"). |
