20:27:49 EST Mon 04 Dec 2023
Enter Symbol
or Name

Rdars Inc (2)
Symbol RDRS
Shares Issued 17,721,287
Close 2023-09-22 C$ 0.10
Recent Sedar Documents

Rdars closes $675,000 debenture financing

2023-09-25 01:11 ET - News Release

Mr. Charles Zwebner reports


Rdars Inc. has closed its previously announced non-brokered private placement of secured convertible debentures for aggregate proceeds to the company of $675,000.

The debentures issued in the financing carry a principal amount of $933,750, including an original issuance discount and due diligence fee. The financed amount of the debentures is convertible into common shares of the company at a conversion price of 15 cents per share and will mature Sept. 22, 2023. The conversion price will be subject to customary adjustments in certain events. The company will have the right to prepay or redeem a part or the entire amount of the debentures plus any accrued and unpaid interest at any time.

The debentures shall bear interest at a rate of 8.5 per cent per annum from the closing date, paid monthly in cash on the first business day of each calendar month. Any accrued but unpaid interest is convertible into shares, at the option of the holder, at the conversion price at any time following the closing date.

The debentures are secured by way of a general security agreement in favour of the holder of debentures, granting a security interest in substantially all of the company's assets.

The company intends to use the proceeds from the financing toward debt repayment and general working capital.

All of the securities issued pursuant to this financing are subject to a statutory hold period of four months and one day from the closing date of the financing.

About Rdars Inc.

Rdars possesses a disruptive technology that is advancing the security industry's approach to protecting commercial, industrial and residential properties by introducing protection with autonomous artificial intelligence systems that allows for real-time response, situation awareness, verification, intervention, evidence recording, data capture, analysis and immediate downstream transmissions to public safety agencies. Rdars has the ability, upon a property security breach, in real time to receive, analyze and downstream the data and inform public safety agencies regarding who the perpetrators potentially are before they even arrive at the property.

Founded in 2019, Rdars is an originator in its innovative equipment manufacturer of its flagship product, the Eagle Watch Platform comprising Eagle Eye, a drone, Eagle Nest, a drone station, Eagle Rover, an indoor robotic system, and Eagle Watch Command & Control Software. The company's autonomous robotic systems provide situational awareness in a cost-effective and reliable manner. The company's mission is to improve alarm response and situational awareness by obtaining required approvals from federal regulatory agencies for Bvlos operations. Rdars is currently developing its technology for private and enterprise customers in the United States and Canada, where these customers require a more reliable and advanced understanding of their property security.

We seek Safe Harbor.

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