Any news about fresh financing and ease of debt repayments is seen as a source of optimism among market participants, which is why it may be a good move to keep an eye on the Maritime Launch Services Inc. (OTC: MAXQF) stock this morning. The company made key announcements about raising fresh capital and a two-year extension on its debentures yesterday.
Key Announcements
In the news release, Maritime Launch Services announced that it managed to raise $1,599,950 in cash at the price of $0.05 a share. Out of that sum, $331,525 had been released to the company previously over the course of five months as interest-free loans from existing shareholders. However, it was also revealed that Maritime Launch Services had paid as much as $127,996 in the form of a finders’ fee as part of the capital raising transaction.
Debenture Update
However, that was not all. The company also announced that yesterday it had closed its extension agreement with the shareholders of its outstanding convertible debenture dated May 7, 2021, and the holders of the same security dated December 7, 2023. The maturity date for both those sets of debentures was set for December 7, 2026.
