On February 24, 2026, Lark Investments Inc. (“Lark Investments”) acquired a senior secured convertible debenture of Snipp Interactive Inc. (“Snipp”) in the principal amount of $900,000 as part of a non-brokered private placement.
The principal amount of the debenture is convertible into Units of Lark Investments at a conversion price ranging from $0.08 per Unit to $0.10 per Unit, depending on the date of conversion and subject to adjustment, and each Unit consists of one common share and one common share purchase warrant of Lark Investments. Each warrant entitles Lark Investments to purchase one additional common share of Snipp at an exercise price of $0.12 per common share for a period of 60 months from the date of issuance of the debenture.
The debenture contains certain forced conversion provisions, and the warrants contain certain forced acceleration provisions in favour of Snipp.
Fasken advised Lark Investments with a team comprised of John Sabetti and Rachel Phillips.
Jurisdictions
- Canada
- Ontario
