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Fort Technology Inc. Announces Closing of Convertible Debenture Financing
(TheNewswire) NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINAT...
About this update from Fort Technology Inc.
[{"type":"text","content":"Fort Technology Inc. Announces Closing of Convertible Debenture Financing\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n NOT\nFOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\nDISSEMINATION IN THE UNITED STATES\n \n\n\n\n August 21, 2025\n \n\n –\n \n\n TheNewswire -\n \n\n Vancouver, British Columbia\n \n\n – Fort Technology Inc. (TSXV:FORT) (the “\n \n\n Company\n \n\n ”) is\npleased to announce that it has closed its previously announced\nnon-brokered private placement\n \n\n (the\n“\n \n\n Private\nPlacement\n \n\n ”)\n \n\n of\nconvertible debentures (the “\n \n\n Convertible Debentures\n \n\n ”) at a price of\n$1,000 per Convertible Debenture for gross proceeds of $\n \n\n 5,000,000\n \n\n . The Convertible Debentures\nwill mature on August 21, 2027 (the “\n \n\n Maturity Date\n \n\n ”),\nand bear interest at\n \n\n 10\n \n\n %\nper annum, payable quarterly with the first payment being for the\nperiod from August 21, 2025 to September 30, 2025. At the option of\nthe holder, the principal amount of the Convertible Debentures is\nconvertible into units of the Company (“\n \n\n Unit\n \n\n ”), at any time\nfrom August 21, 2025 until the Maturity Date at a price equal to\n$0.185 per Unit. units of the Company (“\n \n\n Units\n \n\n ”). Each Unit\nis comprised of one common shares of the Company (“\n \n\n Common Share\n \n\n ”) and\none common share purchase warrant of the Company (“\n \n\n Warrants\n \n\n ”). Each\nWarrant will entitle the holder thereof to acquire one additional\nCommon Share (“\n \n\n Warrant\nShare\n \n\n ”) at an exercise price of $0.185 per\nWarrant Share until August 21, 2030.\n \n\n\n\n The Private Placement was conducted in reliance upon\ncertain prospectus exemptions. The Convertible Debentures, and the\nsecurities issuable upon conversion of the Convertible Debentures, are\nsubject to a hold period until December 22, 2025, in compliance with\napplicable securities laws and the rules of the TSX Venture Exchange.\nThe net proceeds from the Private Placement will be used for general\nworking capital requirements and a loan investment in an arm’s\nlength third party as disclosed in the Company’s news release dated\nAugust 11, 2025.\n \n\n\n\n Th...