Exro Technologies Announces Issuance of Shares for Convertible Debenture Interest Payments

Exro Technologies Updates on Convertible Debenture Interest Payments



Exro Technologies Inc. (TSX: EXRO) is at the forefront of clean technology, focusing on advanced power control solutions tailored for electric vehicles and energy storage systems. On June 23, 2025, the company provided a significant update regarding its convertible debentures issued in late December 2022, with a total amount of CAD 15,000,000 in senior secured convertible debentures. This announcement brings clarity to its financial maneuvers related to convertible debentures which bear an annual interest rate of 12%, payable semi-annually.

As of the specified date, Exro has a total of 14,950 debenture units still outstanding. Currently, the total interest owed on these debentures amounts to CAD 897,000. In a strategic decision aimed at addressing this liability, Exro has opted to settle this interest through the issuance of common shares. Specifically, the company plans to issue 12,814,284 of its common shares to debenture holders at a deemed price of CAD 0.07 per share.

The deemed share price, which is based on the volume weighted average trading price of the common shares over the five trading days prior to June 23, 2025, is in compliance with the terms laid out in the convertible debentures. The company emphasizes that this issuance is subject to various terms and conditions outlined in the debentures themselves, as well as any required approvals, including that of the Toronto Stock Exchange.

About Exro Technologies


Exro Technologies has been making significant strides in developing cutting-edge power control electronics. Following its recent expansion through the acquisition of SEA Electric, the company is poised to enhance its capabilities and offer even more innovative solutions in the e-mobility sector. With products like Coil Driver™ and Cell Driver™, Exro aims to revolutionize the efficiency of electric motors and batteries, providing original equipment manufacturers (OEMs) with unparalleled performance.

The company’s mission extends beyond product development, as it seeks to reshape global energy consumption patterns. By accelerating the shift towards a circular electrified economy, Exro aims to deliver maximum results with minimal energy, advocating for sustainability and efficiency in a rapidly evolving industry.

Investors and interested parties are encouraged to visit Exro’s official website for further information on their products and corporate updates. Notably, they can follow Exro’s journey on social media to stay updated on their latest innovations and achievements.

Cautionary Note


This announcement includes forward-looking statements, which may not necessarily materialize as anticipated due to various factors. Exro Technologies has a comprehensive risk management plan in place and continually assesses the landscape to navigate potential uncertainties successfully. Therefore, stakeholders are advised to consider these factors as they evaluate the company's performance and strategy moving forward.

In summary, the decision to utilize common shares for servicing the interest payments on convertible debentures marks a strategic move by Exro Technologies, showcasing its commitment to transparency and innovation in managing its financial responsibilities.

For more information, visit Exro Technologies and follow them on their social media channels.

Topics Financial Services & Investing)

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