Trenchant Capital Corp. announced a non-brokered private placement non-brokered private placement of 500 convertible debenture units at a price of CAD 1,000 per Debenture Unit for the gross proceeds of up to CAD 500,000 on April 18, 2024. Each Debenture Unit is comprised of CAD 1,000 principal amount unsecured convertible debenture and 1,000 common share purchase warrants.

Each Warrant will entitle the holder thereof to acquire one common share in the capital of the company at a price of CAD 0.26 per Warrant Share for a period of two years following closing. The principal amount of the Debenture will have a maturity date one year following the issuance of the Debentures and will accrue interest at a rate of 10% per annum. At the sole option of the subscriber, the principal amount and accrued interest thereon may be converted into common shares of the company at a conversion price determined by the closing market price of the shares on the Canadian Securities Exchange on the trading day prior to the date the company receives a Notice of Conversion from the subscriber, provided that the Conversion Price will not be less than CAD 0.26 per share, and subject to the policies of the CSE.

On the maturity date, at the sole option of the company, the principal amount and any accrued interest thereon may be converted into shares at the conversion price, subject to the policies of the CSE. All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. The transaction.

The transaction will include participation from insiders of the company.