AEGIS BRANDS ANNOUNCES CONVERSION OF 11% CONVERTIBLE DEBENTURES DUE NOVEMBER 17, 2027

Jan 24, 2023

TORONTO, - Aegis Brands Inc. ("Aegis" or the "Company") (TSX: AEG) is pleased to announce that further to its press release dated December 23, 2022, effective January 23, 2023 (the "Conversion Date"), the entire outstanding principal amount of the Company's 11.0% convertible unsecured subordinated debentures due November 17, 2027 in the amount of CAD$25,045,000 (the "Debentures") has been converted into common shares of the Company ("Common Shares") at a conversion price of CAD$0.485 per Common Share in accordance with the terms and conditions of the Debentures (the "Forced Conversion"). This Forced Conversion will expand Aegis' shareholder base, will strengthen Aegis' Balance Sheet, and will better position the Company for further growth.

In connection with the Forced Conversion, the Company has issued an aggregate of 51,639,175 Common Shares which will remain subject to a statutory hold period expiring January 30, 2023.

The Company has paid out all accrued and unpaid interest in cash, from and including December 31, 2022, being the most recent interest payment date, to, but not including, the Conversion Date (less applicable withholding taxes, as applicable), being $6.63 per $1,000 principal amount of the Debentures.

Source : Newswire.ca

Video: New research chair appointed to accelerate crop variety development

Funded by Sask Wheat, the Wheat Pre-Breeding Chair position was established to enhance cereal research breeding and training activities in the USask Crop Development Centre (CDC) by accelerating variety development through applied genomics and pre-breeding strategies.

“As the research chair, Dr. Valentyna Klymiuk will design and deploy leading-edge strategies and technologies to assess genetic diversity for delivery into new crop varieties that will benefit Saskatchewan producers and the agricultural industry,” said Dr. Angela Bedard-Haughn (PhD), dean of the College of Agriculture and Bioresources at USask. “We are grateful to Sask Wheat for investing in USask research as we work to develop the innovative products that strengthen global food security.”

With a primary focus on wheat, Klymiuk’s research will connect discovery research, gene bank exploration, genomics, and breeding to translate gene discovery into improved varieties for Saskatchewan’s growing conditions.