Rocker Doctor AI (AIDR.CN) said Thursday that it raised C$2.3 million in the first tranche of its private placement of convertible debentures.
The debentures bear interest at a rate of 12% per year and may be converted into company units at C$0.70 apiece.
Each unit will consist of one share and one 12-month warrant to buy a share at C$0.75.
Proceeds will be used mainly for US growth plans, the company said.
Rocket Doctor shares were last seen unchanged at C$0.60 on the Canadian Securities Exchange.