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Parvis Provides Update on Convertible Debenture Financing
Proceeds directed to working capital in support of the integration of Atlas One Digital Securities
Vancouver, British Columbia–(Newsfile Corp. – August 10, <a href="https://bitcomme.com/jbs-reports-second-quarter-2026-results/” title=”JBS Reports Second Quarter 2026 Results”>2026) – Parvis Invest Inc. (TSXV: PVIS) (“Parvis” or the “Company”), a technology-driven platform for private alternative investments, is providing an update on its previously announced non-brokered private placement (the “Concurrent Financing“) of unsecured convertible debentures (the “Debentures“) for aggregate gross proceeds of up to C$3,000,000, as announced on May 28, 2026 and amended on June 30, 2026.
The Company expects to close the Concurrent Financing in one or more tranches, with the first tranche (the “First Tranche“) to close once the Company receives approval from the TSX Venture Exchange (the “Exchange“). As previously disclosed, the Company intends to issue Debenture units (each, a “Debenture Unit“), with each Debenture Unit consisting of one (1) Debenture the principal of which is convertible into common shares (“Common Shares“) at a conversion price of $0.55 per Common Share, and such number of common share purchase warrants (each, a “Warrant“) of the Company equal to 100% of the number of Common Shares issuable upon conversion of the Debenture. Each Warrant shall entitle the Subscriber to acquire one (1) additional common share of the Company at an exercise price of $0.65 per share for a period of twenty-four (24) months from the closing (the “Closing Date“).
The Debentures will bear interest at a rate of 10% per annum and will mature 24 months from the Closing Date. All securities issued under the Concurrent Financing will be subject to a statutory hold period of four months and one day from the Closing Date, in accordance with applicable Canadian securities laws and the policies of the Exchange.
The Company is providing the following update to the intended use of proceeds of the Concurrent Financing previously disclosed in its news releases dated May 28, 2026 and June 30, 2026.
Following a review of the Company’s near-term capital requirements and the anticipated timing of its pending transactions, the Company has revised the intended use of proceeds of the Concurrent Financing. The net proceeds of the First Tranche are now intended to be applied as follows: (i) the majority of the net proceeds to working capital in connection with the integration of the Company’s acquisition of Atlas One; and (ii) the balance to general working capital and the general and administrative expenses of the Company. The Company intends to close the First Tranche prior to completion of the closing of the acquisitions of Atlas One Digital Securities Inc. (“Atlas One“) and FavorPoint Capital, LLC (“FavorPoint“), as announced by the Company on May 21, 2026, June 22, 2026 and July 2, 2026.
