
Prostar Announces Closing of Convertible Debenture Financing

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ProStar Holdings Inc. has closed a non-brokered private placement of secured convertible debentures totaling US$675,000. The debentures carry a 12.5% interest rate and mature in 24 months, convertible into units at US$0.10 each. The offering is subject to TSX Venture Exchange approval and proceeds will be used for general corporate purposes. Director Wayne Moore acquired US$500,000 of the debentures, increasing his ownership stake in the company. All securities are subject to a four-month hold period under Canadian securities laws.

