On December 21, 2018, PowerBD Solutions Inc. (“PowerBD”) closed the first tranche of its C$1.4 million non-brokered private placement financing of secured convertible debentures (the “Debentures”) for gross proceeds of C$466,666. The Debentures will mature on December 21, 2019 and will accrue at an interest rate of 15% per annum. The Debentures are secured as a first ranking charge by way of a general security agreement over the assets of PowerBD.
PowerBD is a private Vancouver-based company that is developing infrastructure products and services to support blockchain and cryptocurrencies. PowerBD’s focus and experience is to provide infrastructure services and solutions in this emerging space with a three pronged business model: starting with data centre hosting facilities for crypto mining facilities, acquiring hardware and mining cryptocurrencies, and developing blockchain infrastructure solutions.