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Northstar Extends Maturing Convertible Debentures
Prnewswire· 2026-02-17 12:00
Core Viewpoint - Northstar Clean Technologies Inc. is extending the maturity date of $425,000 in convertible debentures from February 28, 2026, to February 28, 2027, while maintaining all associated terms unchanged [1] Group 1: Financial Restructuring - The company raised a total of $625,000 under the February 2026 Tranche, with 98% of the $2.1 million in convertible debentures issued between December 2022 and February 2023 either converted to common shares or extended [1] - Northstar plans to issue 106,250 common shares to satisfy $21,250 of interest owed on the February 2026 Tranche, with 18,750 shares going to insiders [1] - The extension of the expiry date of the warrants associated with the February 2026 Tranche is also planned, subject to TSX Venture Exchange acceptance [1] Group 2: Operational Goals - The extension of the debentures is aimed at supporting the company's balance sheet while pursuing production goals at the Empower Calgary facility and achieving profitable operations [1] - A comprehensive operational update is expected to be provided in the coming weeks [1] Group 3: Company Overview - Northstar is focused on sustainable recovery and reprocessing of asphalt shingles, utilizing a proprietary design process to extract liquid asphalt and other materials for reuse [1] - The company aims to lead the recovery and reprocessing of asphalt shingles in North America, addressing environmental concerns related to landfill waste [1]