Novra Announces Convertible Loan Agreement of over $12M at $0.34 per Share
Novra Technologies Inc. (TSXV: NVI) has secured a $12.258 million convertible loan agreement with a US-based private investment group. The loan has a two-year term with a 1.0% annual interest rate. The lender can convert the loan to Novra common shares at $0.34 per share, which is over eight times the previous closing price of $0.04. If fully converted, this would result in 36,053,000 new common shares. Novra plans to use the funds to pay off liabilities and for working capital, focusing on R&D, product enhancement, and expansion into new markets. The agreement is subject to TSX Venture Exchange approval and may require shareholder approval.
Novra Technologies Inc. (TSXV: NVI) ha ottenuto un accordo di prestito convertibile di 12,258 milioni di dollari con un gruppo di investimento privato statunitense. Il prestito ha una durata di due anni con un tasso d'interesse annuale dell'1,0%. Il prestatore può convertire il prestito in azioni ordinarie di Novra a 0,34 dollari per azione, che è oltre otto volte il prezzo di chiusura precedente di 0,04 dollari. Se completamente convertito, ciò porterebbe a 36.053.000 nuove azioni ordinarie. Novra prevede di utilizzare i fondi per ripagare debiti e per capitale operativo, con un focus su R&S, miglioramento del prodotto e espansione in nuovi mercati. L'accordo è soggetto all'approvazione della TSX Venture Exchange e potrebbe richiedere l'approvazione degli azionisti.
Novra Technologies Inc. (TSXV: NVI) ha asegurado un acuerdo de préstamo convertible de 12,258 millones de dólares con un grupo de inversión privado basado en EE. UU. El préstamo tiene un plazo de dos años con una tasa de interés anual del 1.0%. El prestamista puede convertir el préstamo en acciones ordinarias de Novra a 0.34 dólares por acción, lo que representa más de ocho veces el precio de cierre anterior de 0.04 dólares. Si se convierte completamente, esto resultaría en 36,053,000 nuevas acciones ordinarias. Novra planea usar los fondos para pagar pasivos y para capital de trabajo, concentrándose en I+D, mejora de productos y expansión a nuevos mercados. El acuerdo está sujeto a la aprobación de la TSX Venture Exchange y puede requerir la aprobación de los accionistas.
Novra Technologies Inc. (TSXV: NVI)는 미국 기반의 개인 투자 그룹과 12,258만 달러 규모의 전환 대출 계약을 체결했습니다. 이 대출은 2년의 기간을 가지고 있으며 연 1.0%의 이자율을 적용받습니다. 대출자는 Novra의 보통주를 주당 0.34달러로 전환할 수 있으며, 이는 이전 종가 0.04달러의 8배가 넘는 가격입니다. 완전히 전환될 경우, 36,053,000개의 신규 보통주가 생성됩니다. Novra는 이 자금을 부채를 상환하고 운전 자본으로 사용할 계획이며, 연구개발, 제품 개선, 신규 시장 확장에 집중할 것 입니다. 이 계약은 TSX Venture Exchange의 승인에 따라 달라지며 주주 승인도 필요할 수 있습니다.
Novra Technologies Inc. (TSXV: NVI) a sécurisé un accord de prêt convertible de 12,258 millions de dollars avec un groupe d'investissement privé basé aux États-Unis. Le prêt a une durée de deux ans avec un taux d'intérêt annuel de 1,0 %. Le prêteur peut convertir le prêt en actions ordinaires de Novra à 0,34 dollars par action, ce qui représente plus de huit fois le prix de clôture précédent de 0,04 dollars. En cas de conversion totale, cela donnerait lieu à 36 053 000 nouvelles actions ordinaires. Novra prévoit d'utiliser les fonds pour rembourser ses dettes et pour le fonds de roulement, en se concentrant sur la R&D, l'amélioration des produits et l'expansion sur de nouveaux marchés. L'accord est soumis à l'approbation de la TSX Venture Exchange et pourrait nécessiter l'approbation des actionnaires.
Novra Technologies Inc. (TSXV: NVI) hat eine vereinbarung über ein umwandelbares Darlehen in Höhe von 12,258 Millionen Dollar mit einer in den USA ansässigen privaten Investmentgruppe gesichert. Das Darlehen hat eine Laufzeit von zwei Jahren und einen jährlichen Zinssatz von 1,0%. Der Kreditgeber kann das Darlehen in Novra-Stammaktien zu 0,34 Dollar pro Aktie umwandeln, was über achtmal dem vorherigen Schlusskurs von 0,04 Dollar entspricht. Bei vollständiger Umwandlung würde dies zu 36.053.000 neuen Stammaktien führen. Novra plant, die Mittel zur Tilgung von Verbindlichkeiten sowie für Betriebs- und Geschäftskapital zu nutzen und konzentriert sich dabei auf F&E, Produktverbesserung und Expansion in neue Märkte. Die Vereinbarung steht unter dem Vorbehalt der Genehmigung der TSX Venture Exchange und könnte die Zustimmung der Aktionäre erfordern.
- Secured $12.258 million in funding through a convertible loan agreement
- Low interest rate of 1.0% per annum on the loan
- Conversion price of $0.34 per share, significantly higher than current market price
- Funds to be used for paying off liabilities and investing in R&D and market expansion
- Potential significant dilution of existing shareholders if loan is fully converted
- Transaction subject to regulatory and possible shareholder approval
- Current share price ($0.04) significantly lower than conversion price, indicating market skepticism
Winnipeg, Manitoba--(Newsfile Corp. - September 10, 2024) - Novra Technologies Inc. (TSXV: NVI) ("Novra") is pleased to announce that yesterday it entered into a binding non-brokered Convertible Loan Agreement in the aggregate of
Under this Convertible Loan agreement, Lender agrees to loan Novra
The Lender is an arms-length third party and the funds will be used to pay most of Novra's liabilities and for working capital as Novra continues to invest in R&D, to continue enhancing our product lines, and expansion into new markets with new innovating products and services.
If fully converted, this would result in the issuance of 36,053,000 common shares of Novra. At
This proposed private placement is subject to the approval of TSX Venture Exchange and may also required approval by Novra's shareholders. These approvals have not yet been received.
About Novra Technologies Inc.:
Novra (TSXV: NVI) (OTCQB: NVRVF) is an international technology provider of products, systems and services for the distribution of multimedia broadband content. The Novra Group of companies includes Novra Technologies Inc, International Datacasting Corporation, and Wegener Corporation. The companies in the group are known for a strong focus on applications,including: broadcast video and radio, digital cinema, digital signage, and highly reliable data communications.
For more information visit: www.novragroup.com
Forward-Looking Statements:
This press release contains"forward-looking statements" within the meaning of applicable Canadian securities laws, concerning but not limited to:required TSX Venture Exchange approval of this transaction, potential Shareholder approval of this transaction, and anticipated developments in our operations in future periods. Forward-looking statements are generally identifiable by words such as "expect", "anticipate", "believe", "intend", "estimate", "predict", "outlook", "opportunity", "momentum", "potential", "proposed", "targeted", "plans" "possible", "positive indication for", "looking forward to", "getting ready to", "is starting to", and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. As such, forward-looking statements are not historical facts but reflect our current assumptions and expectations regarding future events. These are subject to a number of risk and uncertainties that could cause actual results or events to differ materially from current expectations and assumptions. Some of these risks and uncertainties are described under the "Risks and Uncertainties" section of Novra's MD&A.
For the above reasons, readers are cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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CONTACT FOR NOVRA:
Harris Liontas
CEO
+1 204 989 4632
hliontas@novra.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222876
FAQ
What is the size and terms of Novra Technologies' (TSXV: NVI) new convertible loan agreement?
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What will Novra Technologies (TSXV: NVI) use the funds from the convertible loan for?
How many new shares could be issued if Novra's (TSXV: NVI) convertible loan is fully converted?
