ProStar Holdings Inc. has closed a private placement of secured convertible debentures totaling US$675,000. Each debenture bears interest at 12.5% per annum and will mature in 24 months. The principal amount is convertible into units at a price of US$0.10 per unit. Trigger events will automatically convert the debentures into units. The net proceeds will be used for general corporate purposes, subject to TSXV approval. Directors of the company acquired US$525,000 of the debentures in a related party transaction. ProStar is a leading provider of geospatial intelligence technologies with a focus on mapping critical infrastructure.

For more information about ProStar, visit www.prostarcorp.com. Contact CEO Page Tucker at 970-242-4024 or email [email protected]. The securities offered have not been registered under the U.S. Securities Act and may not be sold in the United States without registration or an exemption. This news is not an offer to sell securities.

Read more at GlobeNewswire: Prostar Announces Closing of Convertible Debenture