Summary by Moomoo AI
On July 8, 2024, SMX (Security Matters) Public Limited Company completed a financing transaction with Canterbury Group Ltd., issuing a promissory note and warrants for gross proceeds of approximately $615,000. The funds are intended for working capital and general corporate purposes. The note, with a principal amount of $750,000, has a maturity date of September 2, 2024, and carries a one-time interest charge of $24,657.53. Additionally, the company issued warrants for 8,653,846 ordinary shares at $0.10 per share, exercisable until December 31, 2025. In July 2024, SMX also settled debts by issuing 4,070,403 ordinary shares and 67,500 5-year warrants to former debtholders. Furthermore, SMX announced a collaboration with Tradepro Inc. to test the marking of post-consumer recycled materials, aiming to enhance digitalization in the plastic supply chain. This partnership is expected to contribute to the establishment of a new industry standard and commence joint commercial sales in Q1 2025.