UrtheCast Corp. (TSX:UR) announced a private placement of unsecured convertible debenture for an aggregate gross proceeds of CAD 2,025,773 on February 3, 2020. The transaction included participation from returning investor, SMF Investments Limited. The debentures carries rate of interest of 17% per annum and will mature on March 31, 2020. The debentures are convertible into common shares of the company at the option of the investor at any time prior to the maturity date at a conversion price of CAD 0.32 per common share. The conversion price is subject to adjustment in certain circumstances including if the company issues any common share or securities convertible into common shares of the company at a lower price but not less than CAD 0.24 per share. The company incurred 3% finance fee from the proceeds of the transaction and issued 4,171,677 common share purchase warrants of the company to the investor. The warrants will expire on January 27, 2025. Each warrant can be exercised to purchase common share of the company at an exercise price of CAD 0.48 per share.