Fort Technology Inc. Clarifies Matters Related to Convertible Debenture Financing

Executive Summary

• Fort Technology Inc. closed a non‑brokered private placement of convertible debentures, raising $5,000,000 in gross proceeds.
• Each debenture is priced at $1,000 and may be converted into units at US $0.133 (CAD $0.185) per unit from August 21 2025 until maturity.
• Every unit consists of one common share and one warrant; each warrant allows purchase of an additional share at US $0.133 (CAD $0.185) up to August 21 2030.

Key Details

• Placement Size & Price: 5,000 convertible debentures sold at $1,000 each for total gross proceeds of $5 million.
• Conversion Terms: Holder may convert principal into units at any time from Aug 21 2025 to the maturity date at a price of $0.185 CAD per unit (US $0.133).
• Unit Composition: Each unit = 1 common share + 1 common share purchase warrant.
• Warrant Exercise Price & Term: Warrants exercisable at $0.185 CAD per share (US $0.133) until Aug 21 2030.
• Currency Clarification: Conversion price and warrant exercise price expressed in U.S. dollars ($0.133) based on Bank of Canada rate 1:1.3897, rounded down to the nearest thousandth.
• Use of Proceeds: (Not disclosed in release – typical for financing announcements).

Notable Quotes

(No direct quotes provided in the release.)