On March 11, 2019 Menē Inc. (“Menē” or the “Company”) announced that it had completed its previously announced debt financing (“Debt Financing”) with a strategic lender (the “Lender”).

Under the Debt Financing, the Lender has purchased, on a non-brokered private placement basis, a 3.0% secured non-convertible note of the Company with a CDN$20,000,000 aggregate principal amount due March 8, 2021 (the “Note”). The Lender also acquired under the Debt Financing 15,000,000 free-trading subordinate voting share (“Class B Share”) purchase warrants in the capital of the Company (the “Warrant”). Each Warrant entitles the holder thereof to purchase a Class B Share (a “Warrant Share”) at a price of $1.00 per Warrant Share until November 29, 2020.

Menē intends to use the net proceeds of the Debt Financing to expand inventory and for working capital purposes.

Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices.

Peterson McVicar acted for Menē Inc with Dennis Peterson.