Latest news with #ConvertibleLoan
Yahoo
15-05-2025
- Business
- Yahoo
Metaguest.AI Announces Financing Progress and Terms Revision to Convertible Loan
Toronto, Ontario--(Newsfile Corp. - May 14, 2025) - Incorporated (CSE: METG) ("Metaguest" or the "Company"), the leading innovator of AI-driven concierge services, is pleased to announce the closing of the first tranche of its previously announced secured loan offering, alongside amendments to an existing secured convertible loan. Closing of First Tranche of Secured Debentures The Company has successfully closed the first tranche of its secured debentures, raising gross proceeds of $193,000. The debentures bear interest at 12% per annum and include a 12% loan advance fee, payable in 231,600 Class A Common Shares of METG at a price of $0.10 per share. These debentures will be secured by a general security agreement over the Company's assets and will rank pari passu with the Company's existing secured convertible loan who's details of amendment are outlined below. Amendment to Existing Convertible Loan The Company has also amended the terms of the original $235,000 secured convertible loan that was closed on February 6, 2024, and announced on February 8, 2024 (the "Convertible Loan"). The amendments include: An extension of the maturity date of the Convertible Loan to May 14, 2026 A revision to the principal amount from $235,000 to $270,674 A 12% amendment fee, payable by issuing 324,716 Class A Common Shares at $0.10 per share, and Participation in the first-ranking security, also for a 12% fee, payable by issuing 324,716 $0.10 Class A Common Shares All other terms of the Convertible Loan remain unchanged. The exiting Convertible Loan is with a private lender (the "Lender"), a company with common officers and directors of the Company. The Convertible Loan with the Lender constitutes a "related party transaction" as such term is defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company was exempt from the MI 61-101 valuation and minority approval requirements for related party transactions in connection with the Convertible Loan under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61 101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the Lender, exceeds 25% of the Company's market capitalization (as determined under MI 61-101). For more information about Metaguest and its innovative digital concierge services, please visit or please contact: Antonio Comparelli, Chief Executive OfficerEmail: investors@ 416-720-8677 Robert Lelovic, Chief Financial OfficerEmail: robert@ 416-302-0779 About Incorporated Incorporated is a cutting-edge technology company that develops advanced AI platforms for the hospitality industry designed to enhance the guest experience. Our flagship products are comprehensive solutions that addresses all aspects of the guest journey, from pre-arrival to post-departure. Features include on-property e-commerce with electronic payments, real-time in-room service management, mobile check-out, personalized in-room controls, local experience/event bookings, virtual personal concierge and more. Guests engage in over 16 languages, on any connected device and without the need to download an app or visit a web site. By leveraging the platforms, hotels, resorts and short-term rental property owners can improve their operational efficiency, personalize the guest experience, increase revenue and overall customer satisfaction. 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. To view the source version of this press release, please visit
New Straits Times
28-04-2025
- Business
- New Straits Times
New merit-based PSD loan scheme to reward top students from June
KUALA LUMPUR: A new academic merit-based sponsorship model for pre-service training programmes will come into effect on June 1, replacing the 2016 merit-based Convertible Loan for service placements. In a statement, the Public Service Department (PSD) said that under the new model, PSD-sponsored students — excluding those in medicine, dentistry, and pharmacy — will be eligible for loan repayment reductions based on their academic performance. Students in the fields of medicine, dentistry, and pharmacy will receive full loan exemptions, provided they complete their studies and fulfil their government service contracts. "This initiative aligns with the principles of Madani Ihsan, which seeks to cultivate human capital rooted in academic and personal excellence among eligible Malaysians," it said. Under the revised repayment structure, students with a final cumulative grade point average (CGPA) of 3.75 to 4.00 will repay just 5 per cent of their loan while those with a CGPA between 3.50 and 3.74 will repay 10 per cent, and those scoring between 3.00 and 3.49 will repay 15 per cent. Students who graduate with a CGPA above 3.00 but take longer to complete their studies will be required to repay 20 per cent. Those who score below a 3.00 CGPA or fail to complete their studies will be obliged to repay the loan in full. Additionally, students who gain employment in the public sector in roles aligned with their qualifications will be exempt from repaying any outstanding balance. The new programme, named PBU Academic, will apply to all new sponsorship recipients from June 1 onwards, excluding Dermasiswa scholarship holders. Students under the 2016 model will have the option to switch to the PBU Academic scheme in phases beginning Jan 1 next year. The PSD also advised students under the 2016 scheme, who have completed their studies and are currently repaying their loans, to suspend payments from June 1 until the conversion option becomes available.
Malay Mail
28-04-2025
- Business
- Malay Mail
Madani govt introduces merit-based JPA sponsorships with loan reductions for top students starting June
KUALA LUMPUR, April 28 — The government will introduce a new Public Service Department (PSD) sponsorship model based on academic merit for the pre-service training (LSP) programme. The PSD, in a statement posted on Facebook today, said the new model would replace the 2016 service placement merit-based Convertible Loan (PBU), with the academic merit-based convertible loan (PBU Academic) coming into effect from June 1. 'This initiative is in line with the principles of Madani Ihsan, which aims to strengthen the development of human capital grounded in academic and personal excellence among eligible Malaysians,' it said. The PSD said that under the new model, JPA-sponsored students, except those in the fields of medicine, dentistry and pharmacy, will enjoy a loan repayment reduction based on academic performance. Students in the fields of medicine, dentistry and pharmacy, meanwhile, will get full loan repayment exemption if they complete their studies and fulfil the contract to serve with the government. 'The PBU Academic will be applied to all new sponsored students starting June 1, except for Dermasiswa recipients. For existing students under the 2016 PBU model, the option to convert to PBU Academic will be offered in phases, starting January 1, 2026,' it added. The PSD also advised students under the 2016 PBU model, who have completed their studies and are currently repaying their loans, to stop making payments starting June 1 until the option to convert is available. Students can refer to the PSD sponsorship portal at or email [email protected] for any inquiries. — Bernama
