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SmarTire secures more financing

Order Reprints

SmarTire Systems Inc. has issued 225 million five year warrants exercisable into shares of its common stock at $0.0298 per share.

SmarTire also has sold a second debenture for gross proceeds of $392,000.

The agreement provides that SmarTire may sell convertible debentures for the balance of up to $336,000 at any time until May 30, 2008.

SmarTire plans to use the proceeds for general corporate purposes.

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