BULLETIN V2024-0455
STEER TECHNOLOGIES INC. ("STER")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debentures
BULLETIN DATE: February 9, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced January 15, 2024:
Convertible Debenture: $3,536,400 in outstanding principal amount of secured convertible debentures.
Conversion Price: Convertible into 58,940,000 Units at $0.06 per Unit. Each Unit consists of 1 common share and 1 common share purchase warrant.
Maturity Date: 1 year from the date of issuance.
Interest rate: 12.0% per annum, accruing daily and compounding monthly.
Warrants: 58,940,000 share purchase warrants to purchase 58,940,000 shares
Warrant Price: $0.06 exercisable for a period of one year.
Number of Placees: 4 placees
Insider / Pro Group Participation:
Placees # of Placee (s) Aggregate # of Units
Aggregate Existing Insider Involvement: N/A N/A
Aggregate Pro Group Involvement: N/A N/A
Aggregate Cash Amount Aggregate #
of Shares Aggregate #
of Warrants
Finder's Fee: N/A N/A N/A
The Company issued a news release on February 8, 2024 confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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