Exro Technologies Inc. Enhances Investor Returns with Shares

Exro Technologies Inc. Updates on Interest Payments

Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF), a pioneering clean-technology company, is pleased to share vital developments regarding its semi-annual interest payments on outstanding convertible debentures. The company specializes in advanced power control electronics that enhance electric motors and battery capabilities.

Details on Convertible Debentures

The company's convertible debentures, totaling C$15,000,000, were issued recently, carrying an interest rate of 12% per annum. The terms dictate that interest payments are due semi-annually, with the initial payment cycle commencing early in 2023. As of now, Exro accommodates 14,950 debenture units, with an interest obligation amounting to C$897,000.

Issuance of Common Shares

To settle the interest owed, Exro Technologies has opted to issue 6,407,141 common shares at a deemed price of $0.14 per share, as stipulated by the terms of the convertible debentures. The issue price reflects the volume-weighted average trading price for the five trading days leading up to the recent announcement date.

Investment Considerations

The transition to common shares for covering interest repays demonstrates Exro's robust financial strategy. It showcases their approach toward maintaining capital while offering flexibility to shareholders and investors alike, mitigating cash flow constraints.

Regulatory Compliance

Issuing these common shares complies with regulatory requirements and is subject to necessary approvals from the Toronto Stock Exchange. This highlights Exro's commitment to abiding by market regulations while ensuring a transparent and efficient process for its investors.

Exro Technologies Inc. Overview

With recent strategic developments including the acquisition of SEA Electric, Exro Technologies Inc. continues to make significant strides in the emerging clean technology sector. This amalgamation enhances its product offerings, showcasing innovative solutions such as the Coil Driver™, Cell Driver™, and SEA-Drive® systems. These technologies are designed to invigorate electric motor and battery production, ultimately propelling OEMs towards a more effective e-propulsion solution.

Aiming for Sustainability

Exro's mission aligns with cultivating a circular electrified economy. The company is dedicated to delivering optimally efficient energy use—maximizing results while minimizing waste. These goals resonate with modern sustainability efforts, pushing both consumers and corporations to adopt cleaner, more efficient energy sources.

Stay Informed

For the latest updates on Exro Technologies Inc., potential investors are encouraged to monitor their performance and strategies. Furthermore, accessing Exro's Investor Presentation will provide insights into their innovative capabilities and projected growth trajectories.

Frequently Asked Questions

What is the purpose of issuing common shares for interest payments?

The issuance of common shares allows Exro to mitigate immediate cash flow constraints while fulfilling their interest obligations to debenture holders.

How can I learn more about Exro Technologies Inc.?

Investors can visit Exro Technologies' website and access their Investor Presentation for detailed insights into the company's strategies and solutions.

What technologies does Exro Technologies focus on?

Exro Technologies specializes in clean technology solutions including the development of advanced power control electronics designed for electric motors and battery systems.

Are the common shares issued affected by market conditions?

Yes, the deemed issue price for common shares is based on the volume-weighted average trading price, meaning it can fluctuate depending on market conditions.

How does Exro contribute to sustainability?

Exro is dedicated to promoting a circular electrified economy, utilizing advanced technologies that enhance energy efficiency and reduce waste in the production process.

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