$50,000 Nventure Convertible Note.

• Prime +4%

• 30% discount

• 36-month term

• Conversion threshold of $500K in aggregate financing (subject to any conversion privileges and payback clauses) so that in effect, the loan may be repaid in common shares.

• No valuation cap on automatic conversion

• IP secured as part of the GSA (General Security Agreement)

• Use of Proceeds are generally for commercialization of the innovation, funding key milestones on the path to market, and activities may be restricted. See Ineligible Use of Proceeds.

• The respective parties to any agreement (Nventure and the investee company) are responsible for their own legal costs.

• Addition terms and conditions apply.

Please click here to read our detailed thriveFORWARD application guide, including eligibility and suitability requirements.

What you will need to complete your application:

• Business information (articles, registrations, business number, and other key documentation);

• Financial information (historical financial statements for the last 2 fiscal years and the most recent interim financial statement—YTD Profit & Loss and Consolidated Balance Sheet);

• Up to date/current cap table.

• Project/milestone plan summary and rationale;

• Information on founders/key personnel;

• Any other documentation or substantiation you may wish to include with your application (project proposal and/or company backgrounder, pitch deck, business plan, links to websites and social media, etc.);

• List of any government funding (including tax credits, e.g. SR&ED Program) received or anticipated to be received by your organization;

• Additional relevant business documentation that may be required.