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Callitas Health raises C$157,000 through debenture issue

Callitas Health is a clinical-stage company developing innovative technologies for obesity, weight management, and female health and wellness.
Canadian dollars
The company also announced that it has issued a total of 400,000 shares as partial consideration to two consultants.

Callitas Health Inc (CNSX:LILY) has completed its first closing of a non-brokered private placement of convertible debenture units.

Thus far, C$157,000 of convertible debenture units have been issued.

The debentures bear interest of 10% per annum for a term of two years and are convertible into common shares of the company at a conversion price of 50 cents per share.

Each unit consists of C$500 in shares at 25 cents (2,000 shares), C$500 in unsecured debentures and 2,000 warrants exercisable at 32 cents for a period of two years.

Proceeds from the issue will be used for general administrative expenses and to further certain of the company's development projects.

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