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# RDARS Completes Non-Brokered Private Placement of Convertible Debentures

Toronto, Ontario–(Newsfile Corp. – September 24, 2023) – RDARS Inc. (CSE: RDRS) (OTCQB: RDRSF) (“RDARS” or the “Company”), a leading autonomous robotics and drone technology company, is pleased to announce the successful completion of its non-brokered private placement of secured convertible debentures. The financing has generated proceeds of $675,000 for the Company.

## Details of the Financing

The secured convertible debentures issued as part of the financing have a principal amount of $933,750, which includes an original issuance discount and due diligence fee. These debentures are convertible into common shares of the Company at a conversion price of $0.15 per share and will mature on September 22, 2023. The conversion price is subject to customary adjustments in certain events. The Company has the option to prepay or redeem a portion or the entire amount of the debentures, along with any accrued and unpaid interest.

The debentures will bear interest at a rate of 8.5% per annum from the closing date, with monthly cash payments on the first business day of each calendar month. Holders of the debentures also have the option to convert any accrued but unpaid interest into shares at the conversion price, following the closing date.

## Security and Use of Proceeds

To secure the debentures, a general security agreement has been put in place, granting a security interest in most of the Company’s assets. RDARS intends to use the proceeds from the financing to repay existing debt and for general working capital purposes.

## Statutory Hold Period

All securities issued as part of this financing are subject to a statutory hold period of four months and one day from the closing date.

## How AI legalese decoder Can Help

RDARS Inc. recognizes the importance of clear and concise legal documents in the financing process. To ensure accurate interpretation and understanding of complex legal terms, the Company utilizes AI legalese decoder. This advanced artificial intelligence technology analyzes legal language, clarifies terminology, and provides plain language summaries for stakeholders. The AI legalese decoder helps stakeholders navigate the terms of the private placement, understand the conversion rights, interest rates, and security agreements in a simplified manner. By using AI legalese decoder, RDARS Inc. enhances transparency, facilitates informed decision-making, and promotes smooth communication between the Company and its investors.

## About RDARS Inc.

Founded in 2019, RDARS Inc. is a pioneer in developing advanced systems for alarm system augmentation and surveillance. The company’s Eagle Watch Platform combines autonomous artificial intelligence systems, including drones, robotic systems, and command software, to enhance security in commercial, industrial, and residential properties. RDARS’ technology enables real-time response, situation awareness, verification, intervention, evidence recording, data capture, analysis, and immediate transmission to public safety agencies.

RDARS is committed to obtaining necessary approvals for beyond visual line of sight (BVLOS) operations and aims to improve alarm response and situational awareness for private and enterprise customers in the United States and Canada. By deploying RDARS’ innovative equipment and autonomous robotic systems, customers can achieve enhanced property security, proactive threat detection, and faster response times.

For more information about RDARS, please visit its website at www.rdars.com and its profile page on SEDAR+ at www.sedarplus.ca.

## Contact Information

For further information, please contact:

Charles Zwebner
Chief Executive Officer
786-564-5602
[email protected]

## Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements that are based on the Company’s expectations, estimates, and projections as of the date of this news release. These statements involve risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. The Company cautions readers not to place undue reliance on these statements, as they are subject to change and uncertainty. Forward-looking statements are provided for informational purposes only and should not be relied upon for investment decisions.

## Disclaimer

The information provided in this press release does not constitute an offer to sell or solicitation of an offer to buy any securities. The securities mentioned in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws. The securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

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