IntelGenx Technologies Corp announced it has entered into Third Amended and Restated Loan Agreement to issue 14% Convertible term loan for a gross proceeds $2,000,000 on March 8, 2024. The loan bears interest rate of 14% and matures on February 1, 2026. The transaction subject to obtaining approval from the Toronto Stock Exchange.

The loan is convertible to at a conversion price of $0.185 per Share, and the principal outstanding under the Second Tranche Loan into Shares at a conversion price equal to the greater of (a) the Conversion Price and the 5-day volume-weighted average price of the Shares on the TSX ending on the day preceding the disbursement by atai of the Second Tranche Loan to the Corporation or IntelGenx, less the maximum permissible discount under the applicable TSX rules. The exercise price per share of Common Stock under this Warrant shall be $0.17.