Playgon Games Inc. announced a non-brokered unsecured convertible debenture private placement or gross proceeds of up to CAD 5,000,000 on December 9, 2022. The debentures will mature 24 months from closing of the transaction and each CAD 1,000 debenture will bear simple interest at 10% per annum paid semi-annually in arrears on the last day of June and December. The debentures shall be convertible into common shares of the company at CAD 0.10 per share.

All the securities to be issued shall be subject to hold period of four months and one day from the closing of the transaction. Closing of the transaction is expected to occur soon and remains subject to the approval of the TSXV and the satisfaction of customary closing conditions for transactions of this nature.