ACCESS Newswire

Asia Green Biotechnology Corp.

Share
Asia Green Biotechnology Corp. Secures Financing to Proceed with Research Activities; Enters Investor Relations Agreement

CALGARY, AB / ACCESSWIRE / August 5, 2021 / Asia Green Biotechnology Corp. ("Asia Green" or the "Company") (CSE:ASIA) announced today that it has secured an agreement with a director of the Company to complete two separate financing transactions for the purpose of addressing certain expenses tied to ongoing and possible new research activities being conducted or which may be commenced by the Company pursuant to the terms of its technology licensing agreements with InPlanta Biotechnology Ltd. ("InPlanta"), Pathway RX Inc. ("Pathway") and Swysh Inc. ("Swysh"). The proceeds of these transactions will be applied to facilitate certain research programs that are or may be undertaken jointly with Asia Green's technology partners, or to advance those programs the Company is developing with its regional and academic partners in SE Asia.

Under the terms of the first element of this financing, the Company will be provided with a credit line of up to $200,000.00 that may be drawn on to facilitate specific research programs being undertaken. The facility will be secured with the grant of a convertible debenture in the name of the lender (the "Debenture"), who is a director and related party. The Debenture carries an interest rate of 12% and is convertible at any time after the date of issue at the option of the lender into common shares in the capital of the Company ("Common Shares") at a price of $0.08 per Common Share (the "Conversion Price"). After 24 months following the date of issue, if the Common Shares trade at or above $0.25, based on the trailing 30-day volume-weighted average price of the Common Shares traded on the CSE, the Company will have the right, exercisable within 10 business days of the end of the trading period, to require the automatic conversion of the Debentures at the Conversion Price by giving the holder 10 business days' prior written notice. The Debentures are repayable on demand on 10 business days' notice to the Company in the event of a change of control of the Company.

Under the terms of the second element of this financing, the Company will complete a private placement (the "Private Placement") of common share units (the "Units"), resulting in the issuance of 2,500,000 Units at a price of $0.08 per Unit for gross proceeds to the Company of $200,000. Each Unit is comprised of (i) a common treasury share and (ii) one common share purchase warrant of the Company (each warrant referred to as a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.15 per share for a period of 24 months from the date of issue.

The proposed subscription by a director of the company for the debenture offering and the equity private placement constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, and the policies of the exchange. For such participation, the company will be relying upon exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(b) and 5.7(1)(a), respectively, of MI 61-101 on the basis that the company is not listed on a specified stock exchange and that, at the time the offerings are agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction insofar as it involves an interested party (within the meaning of MI 61-101) in the offerings, will exceed 25 per cent of the company's market capitalization calculated in accordance with MI 61-101. No special committee was established in connection with the offerings. The board of directors of the company has approved the debenture and equity offerings and no materially contrary view or abstention was expressed or made by any director in relation to the debenture or equity offering (other than the abstention of the director as required pursuant to the Business Corporations Act (Alberta)). The material change report to be filed in relation to the debenture and equity offering will not be not filed at least 21 days prior to the completion of the debenture and equity offerings as contemplated by MI 61-101. The company believes that this shorter period is reasonable and necessary in the circumstances as the completion of the debenture offering will occur shortly before the issuance of this news release and the filing of such material change report.

The Company also announced today that it has engaged Market Speak of 15 Iceboat Terrace, Toronto, ON., to provide certain investor relations services for the Company. Market Speak will assist the Corporation by providing introductions to investment groups and individuals and assisting the Corporation with investor and shareholder communications. Pursuant to the terms of the agreement dated August 3, 2021 between the Company and Market Speak (the "Agreement"), the Company will grant Market Speak an option to purchase up to 200,000 common shares at an exercise price of $0.20 per share, will pay an initial fee of $10,000 and will reimburse Market Speak for any reasonable expenses incurred in carrying out its obligations under the Agreement.

Based in Toronto, Ontario, Market Speak has provided investor and financial relations, business development solutions, strategic planning and financing services to public companies since 2020.

About AGB:

AGB is an early stage international bio-technology company focused on the development, evaluation, testing, application and, ultimately, supply to the market of proprietary organic hybridization technology and certain products derived from that technology. The core approach of the business is centred on the planting, growth and harvesting of new and valuable strains of hemp and related crops in commercial quantities under the terms of license agreements with InPlanta, Swysh and Pathway.

For further information, contact:

David Pinkman
Chief Executive Officer
(403) 863-6034

The Company is not making any express or implied claims that any product produced pursuant to the terms of its license agreements has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronovirus), migraine conditions or any other medical condition at this time.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Asia Green Biotechnology Corp.



View source version on accesswire.com:
https://www.accesswire.com/658512/Asia-Green-Biotechnology-Corp-Secures-Financing-to-Proceed-with-Research-Activities-Enters-Investor-Relations-Agreement

To view this piece of content from www.accesswire.com, please give your consent at the top of this page.

About ACCESS Newswire

DK

Subscribe to releases from ACCESS Newswire

Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from ACCESS Newswire

Latest GA Autonomous Jet Demo Features Live Air-to-Air Engagement Capability17.7.2025 18:10:00 CEST | Press release

Autonomous Tasking With TacACE and Optix.C2 Showcase Maturity and Operational Readiness SAN DIEGO, CALIFORNIA / ACCESS Newswire / July 17, 2025 / General Atomics Aeronautical Systems, Inc. (GA-ASI) and General Atomics Integrated Intelligence, Inc. (GA-Intelligence) successfully completed a groundbreaking demonstration on July 8, integrating technologies across multiple affiliates to showcase long-range kill chain effects, including an autonomous air-to-air engagement. The flight integrated local and global sensor fusion to deliver real-time situational awareness and autonomous tasking to an airborne MQ-20 Avenger® through the Tactical Autonomy Core Ecosystem (TacACE) to close the kill chain and showcase the system's maturity and operational readiness for the warfighter. The event featured the integration of a Collaborative Combat Aircraft (CCA), a fully compliant government-owned autonomy implementation, and beyond-line-of-sight (BLOS) Command and Control (C2). The MQ-20 unmanned jet,

Belgian Aircrew Completes MQ-9B Training17.7.2025 18:05:00 CEST | Press release

GA-ASI's MQ-9B SkyGuardian® Training Was Conducted at Multiple Sites, Including Flight Test & Training Center and Desert Horizon SAN DIEGO, CALIFORNIA / ACCESS Newswire / July 17, 2025 / The first Belgian aircrew has completed training to operate the world's leading remotely piloted aircraft (RPA): the MQ-9B SkyGuardian®. General Atomics Aeronautical Systems, Inc. (GA-ASI), designer and developer of the MQ-9B, provided the extensive aircrew training that culminated at GA-ASI's Desert Horizon test facility in El Mirage, California, following stops in Belgium and GA-ASI's Flight Test & Training Center in North Dakota. "Providing all-encompassing training for the aircrews of our customers goes hand in hand with delivering the world's most capable RPA," said GA-ASI President David R. Alexander. "Completing this training ensures that Belgium is ready and able to operate their MQ-9Bs and maximize the benefits that come from long-range, high-endurance RPA." The scope of the training is focuse

A New Transatlantic Partnership for European CCA17.7.2025 18:00:00 CEST | Press release

General Atomics announces plans for rapid international uncrewed fighter development FAIRFORD, UK / ACCESS Newswire / July 17, 2025 / General Atomics is taking a bold step toward rapidly delivering a European Collaborative Combat Aircraft (CCA) - based on a mature U.S. platform, assembled in Europe, with European mission systems - by aligning its independent U.S. and German aerospace affiliates under a teamed operation.YFQ-42A The new aircraft is derived from the U.S. Air Force's YFQ-42A prototype, currently in ground testing and scheduled for first flight later this summer, designed and built by General Atomics Aeronautical Systems, Inc. (GA-ASI) in San Diego, Calif. European mission system customization and manufacturing in Europe will be supported by General Atomics' German aerospace affiliate, General Atomics Aerotec Systems GmbH (GA-ATS), headquartered in Oberpfaffenhofen, near Munich. Leveraging the prior investments of these established aerospace companies on both sides of the A

The Digital Banker17.7.2025 15:30:00 CEST | Press release

In this July 2025 article for the Fast Company Executive Board, Avtar Sehmbi of the Forbes Technology Council explains why Chief Technology Officers (CTOs) are increasingly positioned to lead the future of banking. LONDON, GB / ACCESS Newswire / July 17, 2025 / Artificial intelligence (AI) and other emerging technologies are reshaping banking by automating tasks, enhancing data analysis, and enabling personalized services. These tools improve risk management, streamline operations, and boost profitability. Institutions like JPMorgan Chase and Bank of America are already leveraging AI for fraud detection, customer service, and advanced analytics. Meanwhile, AI-powered hedge funds and neobanks use technology to deliver tailored experiences and outperform their peers.Avtar Sehmbi The Digital Banker Fast Company Avtar Sehmbi the Digital banker This shift isn't theoretical; it's already well underway. Digital systems are fully embedded into the everyday operations of financial institutions,

Global Sports Brand U.S. Polo Assn. Launches First Retail Store in Berlin, Germany16.7.2025 16:37:00 CEST | Press release

Brand Targets Aggressive Retail, Wholesale and Ecommerce Expansion WEST PALM BEACH, FL AND BERLIN, GERMANY / ACCESS Newswire / July 16, 2025 / U.S. Polo Assn., the official brand of the United States Polo Association (USPA), is proud to announce its first retail store in Germany alongside its brand partners Incom S.p.a. and Modevertrieb Sarnacchiaro GmbH (MVS). The location of the first U.S. Polo Assn. store in the heart of Berlin is at the premier Alexa Mall at Alexanderplatz and marks the beginning of a strategic retail rollout across the country, which solidifies the multi-billion-dollar brand's global presence in Germany. The new Berlin store is offering a curated selection of men's, women's, undergarments, and beachwear collections - a perfect mix of sports heritage and contemporary spirit.U.S. Polo Assn. Executives J. Michael Prince, Antonio Sarnacchiaro, and Lorenzo Nencini with U.S. Polo Assn. Models U.S. Polo Assn. is a symbol of style that blends sports inspiration and authen

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye