Elixxer Stock Price, News & Analysis

Elixxer Ltd. (TSXV: ELXR.H) has announced plans to settle $6.92 million in debt through the issuance of 83.92 million common shares at $0.0825 per share. The majority of the debt settlement ($6.32 million) involves AIP Convertible Private Debt Fund L.P., a control person of the company, who will receive 76.65 million shares.

The settlement includes various secured and unsecured promissory notes, expenses, and M&A advisory fees. The company will require disinterested shareholder approval for portions of the settlement exceeding $10,000 per month to non-arm's length parties. Additionally, $573,487.98 in salary and director fees will be settled with former director Ferras Zalt through 2.42 million shares.

Elixxer Ltd. (TSXV: ELXR) provided a comprehensive corporate update addressing several key developments. The company's Failure-to-File Cease Trade Orders have been revoked as of April 17, 2025, with trading expected to resume shortly. Elixxer has appointed new leadership, including CEO Karim Mecklai and CFO Fiona Fitzmaurice, along with a refreshed board of directors.

The company has restructured its debt obligations, including extending the maturity of $8 million in secured notes plus $3.8M in accrued interest to September 30, 2025. Additionally, Elixxer secured a $1 million bridge loan facility from AIP Fund, its largest creditor and 32% shareholder. The company maintains a 19.36% stake in Freia Farmaceutici and is actively pursuing merger and acquisition opportunities while managing ongoing litigation with Tricho-Med Corporation.

Elixxer Ltd. has secured a bridge loan through an unsecured promissory grid note for up to $1,000,000 from a non-arm's length lender. The loan matures on December 31, 2025, with a 24% annual interest rate, increasing to 34% upon default. The transaction constitutes a related party transaction as the lender is a control person of the company. Elixxer is utilizing financial difficulty exemptions from valuation and minority shareholder approval requirements. The loan was approved by independent board members, excluding Alexey Kanayev and Jayahari Balasubramaniam. The issuance remains subject to TSX Venture Exchange approval.

Elixxer (TSXV: ELXR) has announced the revocation of cease trade orders previously issued by the Autorité des Marchés Financiers (AMF) and the Ontario Securities Commission (OSC). The cease trade orders were initially implemented on May 8, 2023, due to the company's failure to file required continuous disclosure documents.

The company has now successfully updated all its continuous disclosure filings, which are available for viewing on SEDAR+. The revocation of the Failure-to-File Cease Trade Orders was granted on April 16, 2025.

Elixxer (TSXV: ELXR) held its annual and special meeting of shareholders on March 20, 2025, with 56.44% of outstanding shares represented (6,400,078 shares). Key approvals included:

- Appointment of CAN Partners LLP as new auditors with 99.99% approval, replacing MS Partners LLP who resigned February 18, 2025
- Change of registered office from Quebec to Ontario
- Conversion of fixed stock option plan to rolling stock option plan
- Repeal of existing by-laws and enactment of new by-law no. 1

All matters presented were approved by an overwhelming majority of shareholders.

Elixxer (TSXV: ELXR) has announced the appointment of Edward Milewski as an independent director. Milewski brings 35 years of experience as a financial advisor and established ERM Consulting in 2012, providing advice to public small cap companies across Canada. He currently co-hosts 'Midas Letter Raw,' an investment show focusing on Canadian markets analysis.

Milewski holds a B. Comm from University of Windsor (1973) and obtained his CA designation in 1976. His previous board experience includes directorships at Pasofino Gold and Western Troy Capital Resources. He will serve on Elixxer's audit committee as an independent director, replacing Alex Kanayev.

Elixxer (TSXV: ELXR) has announced changes to its Board of Directors. Mark Romano, a senior executive with over 40 years of experience in technical leadership, program management, and business operations, has been appointed as an independent Director. He replaces Jeremy Green, who has resigned from his position on the Board.

Elixxer Ltd. (TSX-V: ELXR, OTC-QB: ELIXF) announced amendments to debt settlements with principal lenders AIP and Arlington, prompted by declining share prices. The amendments involve issuing 243,754,000 common shares at $0.015 each to settle $3,656,310 in debts to each lender. This will result in AIP and Arlington becoming 'control persons' of the corporation, holding approximately 34.08% and 39.64% of shares, respectively. Both settlements require shareholder approval. Additionally, certain balances remain outstanding under the AIP and Arlington Loans.

Elixxer Ltd. (TSX-V: ELXR, OTC-QB: ELIXF) proposes a debt settlement of $8,568,333 through the issuance of shares to two lenders. AIP Convertible Private Debt Fund will receive 198,241,300 shares and warrants, while Arlington Capital LP will receive 230,175,350 shares and warrants, both at $0.02 per share. After these settlements, AIP is projected to control 30.47% of shares, and Arlington 38.69%. Shareholder approval is required for these transactions, alongside TSX Venture Exchange consent, with each lender entitled to nominate two directors upon completion.