SmarTire secures more financing
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.