STEER TECHNOLOGIES INC - STEEF STOCK NEWS

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STEER Technologies Inc. (STEEF) is a leading technology company specializing in innovative solutions for the automotive industry. Their core business revolves around developing advanced autonomous driving systems and software that enhance vehicle safety and efficiency. With a strong focus on research and development, STEER Technologies Inc. has recently achieved significant milestones in the field, securing partnerships with major automakers to integrate their cutting-edge technologies into next-generation vehicles. The company's financial condition remains stable, supported by steady revenue growth and strategic investments in emerging markets. Their commitment to excellence and continuous innovation has positioned them as a key player in the rapidly evolving autonomous driving sector.

01/15/2024 09:29 AM

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STEER Announces Private Placement of up to $3.5 Million of Convertible Debentures With Strategic Investors

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STEER Technologies Inc. (TSXV: STER) has entered into a binding offer letter for the purchase and sale of secured convertible debentures in a Private Placement. The debentures are convertible into units of the company and will mature in 12 months, with interest accruing at 12% per annum. The Private Placement is expected to close on or before February 5, 2024, and the proceeds will be used for working capital and general corporate purposes. The board of directors will be reconstituted, and two new director nominees will be appointed by the investors. The company is considering the distribution of the majority of its equity position in FoodsUp to current shareholders to maximize the value of common shares without dilution.

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11/28/2023 06:00 PM

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STEER Announces Senior Management Transition

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STEER Technologies Inc. (STV: STER) appoints Dean Wu as Chief Financial Officer. Mr. Wu, a graduate from Western University, brings experience from private equity firms and technology companies to his new role at STEER.

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10/27/2023 07:00 AM

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STEER Announces Change to Its Board

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STEER Technologies announces a change to its Board of Directors with Suman Pushparajah resigning as the Company's Director effective October 25, 2023.

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09/11/2023 05:00 PM

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STEER Announces Senior Management Change

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STEER Technologies Inc. announced the termination of Suman Pushparajah as CEO, with Junaid Razvi appointed as interim CEO.

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05/30/2023 06:45 PM

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STEER Reports Record Revenues in Q1 2023

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05/19/2023 05:45 PM

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STEER Provides Update on Settlement Agreement with the Ontario Securities Commission

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05/09/2023 07:03 AM

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STEER Obtains Licence to Operate a Liquor Delivery Service in Ontario

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STEER Technologies Inc. announces that its subsidiary Food HWY Canada Inc. has been issued a license to operate liquor delivery services in Ontario. This new offering is expected to drive order count and positively impact the company's revenues. Alcohol e-commerce sales are projected to reach over $42 billion by 2025.

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05/03/2023 08:06 PM

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STEER Announces Settlement Agreement with the Ontario Securities Commission and Upcoming Hearing

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05/01/2023 08:42 PM

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STEER Reports Record Revenues in Fiscal 2022

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03/30/2023 09:07 AM

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STEER Closes $18 Million Direct Investment Into its Digital Restaurant Supply Business

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STEER Technologies Inc. (TSXV: STER, OTCQX: STEEF) has successfully closed the sale of approximately 37.5% of its digital restaurant supply business, FoodsUp Inc., to a group of investors valued at approximately $47.14 million. The transaction involved a direct investment of $18 million, with $16.5 million in common shares sold to the investor group and $1.5 million retained by STEER. The funds will be used for operational scaling and capitalizing on subscription and on-demand service offerings. Post-transaction, STEER retains 62.5% ownership of FoodsUp, with growth plans focusing on automation and expanded product offerings.

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FAQ

What is the current stock price of STEER TECHNOLOGIES (STEEF)?

The current stock price of STEER TECHNOLOGIES (STEEF) is $0.21465 as of June 10, 2024.

What is the market cap of STEER TECHNOLOGIES (STEEF)?

The market cap of STEER TECHNOLOGIES (STEEF) is approximately 29.5M.

What is STEER Technologies Inc. known for?

STEER Technologies Inc. is known for developing advanced autonomous driving systems and software for the automotive industry, focusing on enhancing vehicle safety and efficiency.

What are some recent achievements of STEER Technologies Inc.?

STEER Technologies Inc. has recently secured partnerships with major automakers to integrate their cutting-edge technologies into next-generation vehicles, showcasing their commitment to innovation and industry leadership.

How is the financial condition of STEER Technologies Inc.?

The financial condition of STEER Technologies Inc. remains stable, supported by steady revenue growth and strategic investments in emerging markets, reflecting their strong position in the market.

What sets STEER Technologies Inc. apart in the autonomous driving sector?

STEER Technologies Inc. differentiates itself in the autonomous driving sector through its focus on research and development, commitment to excellence, and continuous innovation, making them a key player in the rapidly evolving industry.

What is the core business of STEER Technologies Inc.?

The core business of STEER Technologies Inc. revolves around developing innovative solutions for the automotive industry, particularly in the area of autonomous driving systems and software.

How does STEER Technologies Inc. contribute to vehicle safety?

STEER Technologies Inc. contributes to vehicle safety by developing advanced autonomous driving systems and software that enhance the safety features of vehicles, helping to reduce accidents and improve overall road safety.

What recent projects is STEER Technologies Inc. working on?

STEER Technologies Inc. is currently working on various projects related to the integration of their advanced technologies into next-generation vehicles, collaborating with automakers to bring innovative solutions to the market.

Why is STEER Technologies Inc. considered a key player in the industry?

STEER Technologies Inc. is considered a key player in the industry due to their strong focus on research and development, strategic partnerships with major automakers, financial stability, and commitment to continuous innovation.

What is the vision of STEER Technologies Inc. for the future?

The vision of STEER Technologies Inc. for the future is to continue leading the way in the autonomous driving sector, driving innovation, enhancing vehicle safety, and shaping the future of mobility through their cutting-edge technologies.

How does STEER Technologies Inc. strive for excellence in their products?

STEER Technologies Inc. strives for excellence in their products by investing in research and development, collaborating with industry leaders, and incorporating feedback from users to create innovative and high-quality solutions for the automotive industry.