CCH Holdings closes initial US$1.25 million convertible note offering

• CCH Holdings announced an initial closing of a US$ 2.5 million convertible promissory note issuance with accompanying warrants.
• Initial closing issued a US$ 1.25 million note for gross proceeds of US$ 1.15 million.
• Purchase agreement provides for a second US$ 1.25 million note tranche for US$ 1.15 million, contingent on an effective resale registration statement.
• Warrants cover shares equal to US$ 500,000 divided by prior-day VWAP, with an exercise price set at 150% of the note’s fixed conversion price.

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