Jeffs' Brands Subsidiary Fort Technology Secures CAD 5 Million in Convertible Debenture Private Placement

Reuters
Aug 25
Jeffs' Brands Subsidiary Fort Technology Secures CAD 5 Million in Convertible Debenture Private Placement

Jeffs' Brands Ltd., a data-driven e-commerce company operating on the Amazon Marketplace, holds a 75.02% stake in Fort Technology Inc., making it a subsidiary of Jeffs' Brands. Fort Technology, listed on the TSX Venture Exchange, recently completed a private placement of convertible debentures, raising CAD 5 million. This initiative aims to bolster Fort's general working capital and support an existing loan agreement. The convertible debentures are set to mature in two years and offer an interest rate of 10% per annum. These financial moves are part of Jeffs' Brands' broader strategy to support and grow its subsidiary's operational capabilities.

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