09:15 AM EST, 02/21/2025 (MT Newswires) -- Else Nutrition ( BABYF ) on Friday closed a third tranche of a private placement following an amended and restated convertible security funding agreement with Lind Global Fund II, an entity managed by The Lind Partners, for proceeds of US$300,000.

The company issued a convertible security, after the closing, with a two-year term and a face value of US$375,000, and 62.2 million common share purchase warrants exercisable into common shares for a four-year period from the date of issuance at an exercise price of $0.0201 per share.

Else Nutrition ( BABYF ) added that the face value of the third convertible security can be increased by US$375,000 for US$300,000 on or before April 1, following the funding agreement.

The company can also draw an additional $300,000 on or before July 1, 2024 in exchange for the issuance of an additional convertible security with a face value of US$375,000. This convertible security, if issued, may be increased on or before Oct. 1, by US$375,000 for US$300,000, but warrants would not be issued.

Proceeds from the sale of the third and fourth convertible securities, if issued, will be applied to general working capital.