03:19:15 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



UGE International Ltd (2)
Symbol UGE
Shares Issued 33,289,082
Close 2023-12-20 C$ 0.92
Market Cap C$ 30,625,955
Recent Sedar Documents

UGE International prospectus offering

2023-12-20 20:12 ET - Prospectus Approved

Effective Nov. 10, 2023, the company's short form prospectus dated Nov. 10, 2023, was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the Ontario Securities Commission, pursuant to the provisions of the Securities Act.

The TSX Venture Exchange has been advised that the closing of Series 6 secured green debentures (the green bonds) occurred on Nov. 17, 2023, for aggregate gross proceeds of $1,538,050 (Canadian) and $74,100 (U.S.) (excluding the underwriters' overallotment option, which was not exercised).

Offering:  $1,538,050 (Canadian) and $74,100 (U.S.) (excluding the underwriters' overallotment option)

Agents:  Canaccord Genuity Corp., iA Private Wealth Inc., Echelon Wealth Partners Inc. and PI Financial Corp.

Agents' commissions:  $113,330 (Canadian) and $5,460 (U.S.) in cash; further, 37,510 broker warrants, with each broker warrant exercisable at $1.5302 (Canadian) into one common share for 24-month period

Greenshoe option:  The agents have been granted an overallotment option to purchase up to an additional 253 green bonds, representing an additional 15 per cent of the debentures sold pursuant to the offering.

Details of the green bonds

Maturity date:  Dec. 31, 2028

Redemption:  On and after Jan. 1, 2026, and prior to their maturity date, the green bonds may be redeemable, in whole or in part, from time to time at the company's option, at a redemption price equal to the principal amount plus accrued and unpaid interest plus one additional month of interest on the then-outstanding principal amount thereof, if any, to, but excluding, the date set for redemption.

Interest:  9 per cent per annum, payable semi-annually

Conversion:  The bonds are non-convertible.

For further information, please refer to the company's short form prospectus dated Nov. 10, 2023, and news releases dated Oct. 10, 2023, Nov. 10, 2023, Nov. 17, 2023, and Dec. 20, 2023.

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