Eguana Technologies Inc. (TSXV: EGT) has completed the second and final tranche of its convertible debenture financing, bringing total gross proceeds to C$500,000. The Calgary-based energy storage company issued 35 additional debentures in the second tranche for C$35,000, following the C$465,000 first tranche closed on October 21, 2026. The financing was conducted under a partial revocation order granted by the Alberta Securities Commission, which temporarily lifted the company's failure-to-file cease trade order to permit the transaction. Investors will be watching whether Eguana can use the proceeds to file outstanding regulatory documents and pursue a full revocation of the cease trade order.

Key Points

  • Eguana Technologies Inc. (TSXV: EGT) has closed its convertible debenture financing in full.
  • 500 subordinated secured convertible debentures were issued for aggregate gross proceeds of C$500,000 across two tranches.
  • Debentures mature 12 months after issuance and are convertible into common shares at C$0.15 per share, subject to full or partial revocation of the FFCTO and TSXV acceptance.
  • Investors should monitor whether Eguana completes its outstanding financial filings and obtains a full revocation of the cease trade order.

Two-Tranche Structure Completes C$500,000 Raise for Eguana Technologies

The financing was executed in two stages. The first tranche of 465 debentures, raising C$465,000, closed on October 21, 2026. The second and final tranche comprised 35 debentures at C$1,000 principal each, contributing an additional C$35,000 and completing the full offering. Each debenture matures 12 months after issuance. The debentures carry interest payable in cash, are secured against the company's present and after-acquired personal property, and rank behind obligations owed to certain existing secured creditors, on terms accepted by the TSX Venture Exchange and those creditors.

Failure-to-File Cease Trade Order Remains in Effect During Financing

The Alberta Securities Commission issued the failure-to-file cease trade order against Eguana on May 6, 2026, after the company did not file its annual audited financial statements, annual management's discussion and analysis, annual certifications, and interim financial statements for the three months ended March 31, 2026. A partial revocation order granted August 27, 2026, permitted the financing to proceed. Conversion of the debentures into common shares is only permitted after the FFCTO is fully revoked or a further partial revocation expressly authorises conversion, subject also to TSXV acceptance.

Proceeds Directed Toward Completing Outstanding Regulatory Filings

Eguana states it intends to apply the financing proceeds to completing its outstanding financial filings and to applying for a full revocation of the FFCTO, with any remaining funds directed toward general working capital. The financing remains subject to final TSXV acceptance, required creditor consents and intercreditor arrangements, investor documentation, and satisfaction of the partial revocation order conditions. The company cautions there is no assurance the proceeds will be sufficient to complete the filings or secure a full cease trade order revocation within any anticipated timeframe.