RDARS Announces Closing of Non-Brokered Debenture Financing
RDARS Inc. (CSE: RDRS) (OTCQB: RDRSF), an autonomous robotics and drone technology company, has announced the closing of a non-brokered private placement of unsecured convertible debentures. The financing raised aggregate proceeds of $513,520 for the company. The debentures carry a principal amount of $641,900, including an original issuance discount, and will mature on May 4, 2024. They do not bear interest and can be converted into common shares at a deemed price of $0.15 per post-Consolidation share.
RDARS plans to use the proceeds for debt repayment and general working capital. The company also intends to consolidate its common shares on a 10:1 basis, subject to shareholder approval at a meeting scheduled for May 31, 2023. All securities issued in the financing are subject to a four-month plus one day statutory hold period.
RDARS Inc. (CSE: RDRS) (OTCQB: RDRSF), una società di tecnologia autonoma per robotica e droni, ha annunciato la chiusura di un collocamento privato non intermediato di obbligazioni convertibili non garantite. Il finanziamento ha raccolto proventi complessivi di $513,520 per la società. Le obbligazioni hanno un importo principale di $641,900, inclusi uno sconto sull'emissione originale, e scadranno il 4 maggio 2024. Non maturano interessi e possono essere convertite in azioni ordinarie a un prezzo presunto di $0.15 per azione post-Consolidamento.
RDARS prevede di utilizzare i proventi per rimborso del debito e capitale circolante generale. La società intende anche consolidare le proprie azioni ordinarie su base 10:1, soggetto all'approvazione degli azionisti in un incontro programmato per il 31 maggio 2023. Tutti i titoli emessi nel finanziamento sono soggetti a un periodo di blocco legale di quattro mesi più un giorno.
RDARS Inc. (CSE: RDRS) (OTCQB: RDRSF), una empresa de tecnología en robótica y drones autónomos, ha anunciado el cierre de un colocación privada no mediada de bonos convertibles no garantizados. La financiación recaudó ingresos agregados de $513,520 para la empresa. Los bonos tienen un monto principal de $641,900, incluyendo un descuento en la emisión original, y vencerán el 4 de mayo de 2024. No devengan intereses y pueden convertirse en acciones comunes a un precio considerado de $0.15 por acción post-Consolidación.
RDARS planea utilizar los ingresos para pago de deudas y capital de trabajo general. La empresa también tiene la intención de consolidar sus acciones comunes en una proporción de 10:1, sujeto a la aprobación de los accionistas en una reunión programada para el 31 de mayo de 2023. Todos los valores emitidos en la financiación están sujetos a un período de retención legal de cuatro meses más un día.
RDARS Inc. (CSE: RDRS) (OTCQB: RDRSF), 자율 로봇 및 드론 기술 회사, 는 중개인 없는 사모 배치의 무담보 전환 사채 발행을 완료했다고 발표했습니다. 이 자금 조달을 통해 회사는 $513,520의 총 수익을 올렸습니다. 이 사채의
RDARS는 자금을 부채 상환 및 일반 운영 자본에 사용할 계획입니다. 회사는 10:1 비율로 보통주를 통합할 계획이며, 이는 2023년 5월 31일에 예정된 주주 승인에 따라 진행됩니다. 자금 조달에서 발행된 모든 증권은 4개월 1일 법정 보유 기간이 적용됩니다.
RDARS Inc. (CSE: RDRS) (OTCQB: RDRSF), une entreprise de technologie en robotique autonome et drones, a annoncé la clôture d'un placement privé sans intermédiaire d'obligations convertibles non garanties. Le financement a levé des recettes globales de $513,520 pour l'entreprise. Les obligations ont un montant principal de $641,900, y compris une remise sur l'émission initiale, et échoueront le 4 mai 2024. Elles ne portent pas d'intérêt et peuvent être converties en actions ordinaires à un prix estimé de $0.15 par action après la consolidation.
RDARS prévoit d'utiliser les recettes pour remboursement de dettes et fonds de roulement général. L'entreprise a également l'intention de consolider ses actions ordinaires sur une base de 10:1, sous réserve de l'approbation des actionnaires lors d'une réunion prévue le 31 mai 2023. Tous les titres émis dans le cadre du financement sont soumis à une période de blocage légale de quatre mois plus un jour.
RDARS Inc. (CSE: RDRS) (OTCQB: RDRSF), ein Unternehmen für autonome Robotik- und Drohnentechnologie, hat den Abschluss einer nicht vermittelte Privatplatzierung von ungesicherten wandelbaren Anleihen bekannt gegeben. Die Finanzierung hat Gesamterlöse von $513,520 für das Unternehmen eingebracht. Die Anleihen haben einen Nennwert von $641,900, einschließlich eines Originalausgabeverlustes, und fällig am 4. Mai 2024. Sie tragen keine Zinsen und können zu einem festgelegten Preis von $0.15 pro Aktie nach Konsolidierung in Stammaktien umgewandelt werden.
RDARS plant, die Erlöse für Schuldenrückzahlung und allgemeines Betriebskapital zu verwenden. Das Unternehmen beabsichtigt außerdem, seine Stammaktien im 10:1 Verhältnis zu konsolidieren, vorbehaltlich der Zustimmung der Aktionäre bei einer Sitzung, die für 31. Mai 2023 angesetzt ist. Alle im Rahmen der Finanzierung ausgegebenen Wertpapiere unterliegen einer vier Monate plus einem Tag gesetzlichen Haltedauer.
- Raised $513,520 in aggregate proceeds through non-brokered private placement
- Debentures convertible to common shares at $0.15 per post-Consolidation share
- Proceeds to be used for debt repayment and working capital
- Debentures carry a higher principal amount of $641,900 due to original issuance discount
- Planned 10:1 share consolidation may impact existing shareholders
Toronto, Ontario--(Newsfile Corp. - May 4, 2023) - RDARS Inc. (CSE: RDRS) (OTCQB: RDRSF) ("RDARS" or the "Company"), an autonomous robotics and drone technology company developing advanced systems for alarm system augmentation and surveillance, is pleased to announce the closing of a non-brokered private placement (the "Financing") of unsecured convertible debenture ("Debenture") for aggregate proceeds to the Company of
The Debentures sold in the Financing carry a principal amount of
Further, the Company plans to consolidate (the "Consolidation") its pre-Consolidation common shares on the basis of 10 pre-Consolidation common shares for one (1) post-Consolidation common share. The Company anticipates receiving shareholder approval for the Consolidation at a shareholders' meeting to be held on May 31, 2023.
All securities issued or issuable pursuant to the Financing are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
About RDARS Inc.
RDARS possesses a disruptive technology that is advancing the security industry's approach to protecting commercial, industrial, and residential properties, by introducing protection with autonomous artificial intelligence systems that allows for real time response, situation awareness, verification, intervention, evidence recording, data capture, analysis, and immediate downstream transmissions to public safety agencies. RDARS has the ability, upon a property security breach, in real time to receive, analyze, and downstream the data and inform public safety agencies who the perpetrators potentially are before they even arrive at the property.
Founded in 2019, RDARS is an originator in its innovative equipment manufacturer of its flagship product, the Eagle Watch Platform comprising of Eagle Eye, a drone, Eagle Nest, a drone station, Eagle Rover, an indoor robotic system, and Eagle Watch Command & Control Software. The Company's autonomous robotic systems provide situational awareness in a cost effective and reliable manner. The Company's mission is to improve alarm response and situational awareness by obtaining required approvals from federal regulatory agencies for BVLOS operations. RDARS is currently developing its technology for private and enterprise customers in the United States and Canada, where these customers require a more reliable and advanced understanding of their property security. For more information about RDARS, please visit its website at www.rdars.com and its profile page on SEDAR at www.sedar.com.
For more information, please contact:
Charles Zwebner
Chief Executive Officer
786-564-5602
charles.zwebner@rdars.com
Cautionary Note Regarding Forward Looking Statements
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the Company's business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the Company's future growth prospects; the development of the Company's business and future activities following the date hereof; expectations relating to market size and anticipated growth in the jurisdictions within which the Company may from time to time operate or contemplate future operations; expectations with respect to economic, business, regulatory and/or competitive factors related to the Company or the autonomous drone and robotic industry and security industry generally; the impact of the COVID-19 pandemic on the Company's current and future operations; the market for the Company's current and proposed product offerings, as well as the Company's ability to capture market share; the Company's strategic investments and capital expenditures, and related benefits; the distribution methods expected to be used by the Company to deliver its product offerings; the competitive landscape within which the Company operates and the Company's market share and reach; the performance of the Company's business and the operations and activities of the Company; the Company's ability to obtain, maintain, and renew or extend, applicable authorizations, including the timing and impact of the receipt thereof; the Company's technology making an impact on the autonomous drone and robotic industry and security industry; the Company's products providing its consumers with the benefits as described herein; the Company continuing its research and development in its products; the Company's anticipation for the deployment of its products under the timelines stated; and the completion of further tranches of the Financing and the use of proceeds thereunder as stated.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's financial condition and development plans do not change as a result of unforeseen events; there will continue to be a demand, and market opportunity, for the Company's product offerings; current and future economic conditions will neither affect the business and operations of the Company nor the Company's ability to capitalize on anticipated business opportunities; current and future members of management will abide by the Company's business objectives and strategies from time to time as established by the Company; the Company will retain and supplement its board of directors and management, or otherwise engage consultants and advisors having knowledge of the industries (or segments thereof) within which the Company may from time to time participate; the Company will have sufficient working capital and the ability to obtain the financing required in order to develop and continue its business and operations; the Company will continue to attract, develop, motivate and retain highly qualified and skilled consultants and/or employees, as the case may be; no adverse changes will be made to the regulatory framework governing beyond visual line of sight operations, taxes and all other applicable matters in the jurisdictions in which the Company conducts business and any other jurisdiction in which the Company may conduct business in the future; the Company will be able to generate cash flow from operations, including, where applicable, distribution and sale of its products; the Company will be able to execute on its business strategy as anticipated; the Company will be able to meet the requirements necessary to obtain and/or maintain authorizations required to conduct the business; the Company's continuing ability to meet the requirements necessary to remain listed on the CSE; general economic, financial, market, regulatory, and political conditions, including the impact of the COVID-19 pandemic, will not negatively affect the Company or its business; the Company will be able to successfully compete in the autonomous drone and robotic industry and security industry; prices offered by competitors will not decline materially; the Company will be able to effectively manage anticipated and unanticipated costs; the Company will be able to conduct its operations in a safe, efficient and effective manner; general market conditions will be favorable with respect to the Company's future plans and goals; the Company's technology will make an impact on the autonomous drone and robotic industry and security industry; the Company's products providing its consumers with its benefits as described herein; the Company will deploy its products under the timelines stated; and ability of the Company to close further tranches of the Financing and allocate the use of proceeds thereunder as stated.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the risks associated with the autonomous drone and robotic industry and security industry in general; the inability of the Company to obtain requisite approvals; the Company's inability to attract and retain qualified members of management to grow the Company's business and its operations; unanticipated changes in economic and market conditions (including changes resulting from the COVID-19 pandemic) or in applicable laws; the Company's inability to secure or maintain required authorizations necessary to conduct the business and operations and meet its targets; the Company's inability to effectively manage unanticipated costs and expenses, including costs and expenses; the risk's associated with the Company's in meeting its business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones; the inability of the Company's to identify and secure future growth prospects; the Company's inability to develop its business and future activities following the date hereof; the Company's inability to meet or exceed expectations relating to market size and anticipated growth in the jurisdictions within which the Company may from time to time operate or contemplate future operations; the Company's inability to meet the requirements necessary to remain listed on the CSE; the Company's inability to meet or exceed expectations with respect to economic, business, regulatory and/or competitive factors related to the Company or the autonomous drone and robotic industry and security industry generally; the Company's inability to mitigate the impact of the COVID-19 pandemic on the Company's current and future operations; the risks associated with the market for the Company's current and proposed product offerings, as well as the Company's inability to capture market share; the risks associated with the Company's strategic investments and capital expenditures, and related benefits; the risks associated with the distribution methods expected to be used by the Company to deliver its product offerings; the risks associated with the competitive landscape within which the Company operates and the Company's market share and reach following the date hereof; the lack of performance of the Company's business and the operations and activities of the Company following the date hereof; the Company's inability to obtain, maintain, and renew or extend, applicable authorizations, including the timing and impact of the receipt thereof; the Company's technology making an impact on the autonomous drone and robotic industry and security industry; the inability of the Company's products to provide its consumers with its benefits as described herein; the Company will not deploy its products under the timelines stated; and inability of the Company to close further tranches of the Financing and allocate the use of proceeds thereunder as stated.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164863
FAQ
What is the maturity date of the convertible debentures issued by RDARS Inc. (RDRSF)?
How much did RDARS Inc. (RDRSF) raise in its recent non-brokered private placement?
What is the conversion price for the debentures issued by RDARS Inc. (RDRSF)?
When is RDARS Inc. (RDRSF) planning to hold a shareholders' meeting for the proposed share consolidation?
