Bioharvest Sciences Inc., a biotechnology company, has announced a significant strengthening of its balance sheet through a series of financial transactions. The company successfully raised $10.9 million in gross proceeds and reduced its total debt by $3.8 million. This was achieved by the exercising of 898,277 warrants and the conversion of $6.9 million of convertible notes into equity, alongside the issuance of new convertible notes worth $5.1 million which were also converted into common shares. Additionally, $1.8 million of pre-existing convertible notes were converted, and $1.4 million of long-term debt was repaid through the exercising of warrants. The company now holds approximately $6.6 million in total debt, with $3.6 million in short-term debt and $3 million in long-term debt. The proceeds will be used for capital expenditures, debt refinancing, and general working capital, supporting Bioharvest's growth initiatives. CEO Ilan Sobel highlighted the transactions as pivotal in providing financial flexibility and accelerating growth across their products and services.