Sage Geosystems Inc. announced that it will receive $55,457,605.86 in funding on December 21, 2023. The company will issue 3,329,193 series A preferred shares at issue price of $9.9123 per share for the gross proceeds $32,999,959.7739; 422,273 series A-2 preferred shares at issue price of $4.9638 per share for the gross proceeds $2,096,078.7174; 959,760 series A-3 preferred shares at issue price of $6.472 per share for the gross proceeds $6,211,566.72; 1,417,185 series A-4 preferred shares at issue price of $6.3833 per share for the gross proceeds $9,046,317.0105; and 643,600 series A-5 preferred shares at issue price of $7.9299 per share for the gross proceeds $5103683.64. The shares are convertible, and non-redeemable.

The shares will be convertible in common shares at a price of $9.9123; $4.9638; $6.472; $6.3833; and $7.9299 per share respectively. The company will issue securities pursuant to exemption provided under Regulation D. The company will receive $41,157,629 pursuant to exemption provided under Regulation D.