SmarTire secures more financing

Jan. 25, 2008

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.

Sign up for Modern Tire Dealer Newsletters
Get the latest news and updates.