On July 11, 2024, CENTR Brands Corp. closed the transaction. The company announced that it has received 100 unsecured convertible debentures at a price of CAD 1,000 per debenture in the aggregate principal amount of CAD 100,000 for the gross proceeds of CAD 100,000.

The Debentures will bear interest from July 11, 2024 at a rate of 10.0% per annum, calculated and payable annually, and will mature on July 11, 2025, being the date that is 12 months from the date of issuance. An insider of the Company participated in the Offering by subscribing for Debentures in the aggregate principal amount of CAD 100,000. The securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the Closing Date in accordance with applicable securities legislation.