EdgeTI Announces Closing of Over Subscribed $8,010,000 USD Private Placement Convertible Debenture Units

Core Viewpoint - Edge Total Intelligence Inc. successfully closed a private placement of convertible debentures, raising US$8,010,000, exceeding initial expectations and marking a significant milestone for the company [1][2][15] Financing Details - The offering consisted of 8,010 units priced at US$1,000 each, resulting in total gross proceeds of US$8,010,000, surpassing the previously announced 7,250 units [2] - Each Debenture Unit includes one unsecured convertible debenture of US$1,000 and 675 subordinate voting share purchase warrants [3] - The Debentures will mature in three years with interest rates of 6.00% in the first year, 8.00% in the second year, and 10.00% in the third year [5] Strategic Implications - The financing is expected to strengthen the company's capital position, enabling acceleration in business development and customer adoption of intelligent automation solutions [4] - The company has completed three non-brokered financings and signed a binding agreement for a strategic transaction with Austal Ltd., indicating ongoing momentum in its strategic plan [4][16] Conversion and Warrant Details - Upon a Trigger Event, accrued principal and interest on the Debentures will convert into shares at a 10% discount to the volume-weighted average price on a US Exchange [6] - Each Warrant allows the holder to acquire one subordinate voting share at C$2.00, with potential acceleration of expiration based on share price performance [7] Regulatory and Compliance Aspects - The closing of the offering is subject to necessary regulatory approvals, including conditional approval from the TSX Venture Exchange [9] - The company will pay the placement agent cash commissions of up to 8% on gross proceeds and issue compensation warrants [10] Company Overview - Edge Total Intelligence Inc. provides real-time situational intelligence and digital twin technologies, aiming to enhance decision-making across various sectors [13]