Sonomax Technologies Inc (TSXV:SHH) announced a private placement of 12% secured convertible debentures for gross proceeds of CAD 3,051,000 on December 21, 2012. The debentures issued carry 12% interest and will mature on February 15, 2014. The interest will be payable semi-annually in arrears on June 30 and December 31 in each year, commencing December 31,2012. The debentures are convertible into the common shares at CAD 0.125 per share. The securities issued are subject to a hold period expiring on April 22, 2013. Peter Brennan, a director of the company participated for CAD 1,135,000 along with another director. The securities were issued to investors in Quebec and United States.

On December 21, 2012, Sonomax Technologies Inc closed the transaction. The transaction saw participation from seven placees. 6048242 Canada Inc., P.J. Malouf & Co. Inc., Peter Malouf from 999869 Canada Inc. invested for 10,000,000 shares and Peter Brennan invested for 9,080,000 upon conversion.