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Novra Announces Closing of Second SNAPS Convertible Loan Agreement
Winnipeg, Manitoba--(Newsfile Corp. - May 12, 2026) - Novra Technologies Inc. (TSXV: NVI)&#x...
About this update from Novra Technologies Inc.
[{"type":"text","content":"Novra Announces Closing of Second SNAPS Convertible Loan AgreementWinnipeg, Manitoba--(Newsfile Corp. - May 12, 2026) - Novra Technologies Inc. (TSXV: NVI) (\"Novra\") is issuing this notice to announce the closing of the US $3.2 million convertible loan agreement with SNAPS Holding Company (\"SNAPS\") initially announced on February 11, 2026. Under this agreement SNAPS has provided US $3.2 million (CA $4.352 million) for a term of two years with interest at 1% per annum. These funds were received by Novra in January. Subject to TSX Venture Exchange (\"TSX-V\") and shareholder approval, this loan can be converted into Novra common shares by either SNAPS or Novra at any time during the term at CA $0.34 per share. SNAPS has requested conversion of the entire amount. This would result in the issuance of 12.800,000 shares, if approved.Novra has received conditional approval for the convertible loan from TSX-V. Shareholder approval will be sought at our annual meeting on June 26, 2026. Although we anticipate shareholders will approve the loan's conversion to shares, Novra can provide no assurance before the vote that this will necessarily be the case. As insiders, Novra's Directors and Officers are currently subject to a trading blackout and this will continue for an additional one-week period after a future update announcing an end to the blackout is released. About Novra Technologies Inc.: Novra (TSXV: NVI) (OTCQB: NVRVF) is an international technology provider of products, systems and services for the distribution of multimedia broadband content. The Novra Group of companies includes Novra Technologies Inc, International Datacasting Corporation, and Wegener Corporation. The companies in the group are known for a strong focus on applications, including: broadcast video and radio, digital cinema, digital signage, and highly reliable data communications. For more information visit: www.novragroup.com Forward-Looking Statements: This press release contains \"forward-looking statements\" within the meaning of applicable Canadian securities laws, concerning but not limited to: pending TSX Venture Exchange final approval and Shareholder approval of this transaction. Forward-looking statements are generally identifiable by words such as \"expect\", \"anticipate\", \"believe\", \"intend\", \"estimate\", \"predict\", \"outlook\", ...