LOOPShare Ltd. (TSXV:LOOP) announced private placement of convertible debentures at par with an arm's length third party lender for gross proceeds of CAD 300,000 on March 4, 2020. The debentures will mature in 12 months from the date of closing and bears interest at the rate of 10% per annum, payable on maturity. The debentures are convertible into common shares at a fixed conversion price of CAD 0.50 per share. The company will also issue 600,000 detachable share purchase warrants exercisable at a price of CAD 0.50 per share for a period of one year from the date of closing. The accrued and unpaid Interest is convertible into shares at a conversion price equal to the market price. The debentures are secured against the inventory of Scoot-E-Bikes® and the proceeds received from their sale.