UGE International Ltd. announced a private placement of non-convertible bonds for the gross proceeds of $3 million on March 8, 2023. The bonds will have a term of four years and bear interest at a rate of 9% per annum, payable semi-annually commencing December 31, 2023. The company intends to seek to list the green bonds for trading on the TSX Venture Exchange after the four-month hold period expires, on a best-efforts basis.

Closing of the offering is subject to the approval of the exchange.