Playgon Games Inc. announced a non-brokered private placement of unsecured convertible debentures for gross proceeds of CAD 6,000,000 on May 3, 2023. The transaction will include participation from existing individual investor, Kathleen Crook. The Debentures will mature 24 months following issuance and holders will be entitled to convert the principal amount of the Debentures at any time on or prior to the Maturity Date into common shares in the capital of the Company at a conversion price of CAD 0.10.

The debentures have a coupon rate of 10%. The transaction remains subject to the final approval of the TSXV.