#Canada #Calgary, AB #Exro Technologies #Convertible Debentures #Clean Technology

Exro Technologies Provides Interest Payment Update

Exro Technologies Inc. has recently communicated crucial updates regarding its semi-annual interest payments associated with outstanding convertible debentures. The company, recognized as a leader in clean technology, is innovatively addressing its financial commitments by opting for share issuance instead of cash payments.

This decision pertains to a total of C$15,000,000 secured convertible debentures that were issued on December 30, 2022, carrying an interest rate of 12% annually. The interest payments are scheduled to be made semi-annually, starting from June 30, 2023. As of now, 14,950 debenture units remain outstanding, with an aggregate interest payment due of C$897,000.

To manage this financial obligation, Exro will issue 6,407,141 common shares priced at $0.14 each to the holders of the debentures. The pricing of these shares has been calculated based on the volume-weighted average trading price over the five trading days preceding December 20, 2024. This strategy allows Exro to preserve its cash flow while still meeting its interest payment responsibilities, a move that reflects prudent financial management in a growing sector.

The issuance of these common shares as a form of payment complies with the specific terms outlined in the convertible debentures and is contingent upon receiving necessary approvals, notably from the Toronto Stock Exchange. Such measures illustrate Exro's commitment to adhering to regulatory requirements while also employing strategic financing options.

Exro Technologies is notably positioned at the cutting edge of power control electronics, having expanded its offerings through the acquisition of SEA Electric. The company’s product line, which includes innovative solutions like Coil Driver™, Cell Driver™, and SEA-Drive®, enables enhanced performance and efficiency for electric motors and batteries. These developments are paving the way for the acceleration of a circular electrified economy, with Exro at the forefront of reshaping energy consumption.

In light of these strategic financial moves and technological advancements, Exro stands committed to delivering substantial results with optimal energy use. By continuing to innovate and adapt to market needs, Exro is not only meeting its current financial obligations but also ensuring its long-term sustainability and growth in the clean technology sector.

For additional details about Exro Technologies, interested parties are encouraged to visit the company's official website at Exro.com or access the investor presentation available at Exro Investors. The firm actively encourages engagement through its social media platforms as well, where news and updates are frequently shared under the handle @Exrotech.