LeddarTech Obtains Waiver Beneath Credit score Facility

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QUEBEC CITY, Canada, July 05, 2024 (GLOBE NEWSWIRE) — LeddarTech Holdings Inc. (“LeddarTech” or the “Firm”) (Nasdaq: LDTC), an automotive software program firm that gives patented disruptive AI-based low-level sensor fusion and notion software program expertise, LeddarVision™, for ADAS, AD and parking purposes, declares it entered right into a Ninth Amending Settlement (the “Waiver”) with Fédération des caisses Desjardins du Québec (“Desjardins”) with respect to the Amended and Restated Financing Provide dated as of April 5, 2023 (as amended, the “Desjardins Credit score Facility”). Pursuant to the phrases of the Desjardins Credit score Facility, the Firm is required to keep up an unencumbered money steadiness of at the least C$5.0 million (the “Minimal Money Covenant”). Pursuant to the Waiver, amongst different issues, Desjardins has briefly diminished the required Minimal Money Covenant to C$3.5 million from July 5, 2024 by means of July 6, 2024, and to C$1.8 million from July 7, 2024 by means of July 26, 2024, after which era the Firm will once more be obligated to keep up a minimal money steadiness of C$5.0 million.

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The foregoing description of the Waiver doesn’t purport to be full and is certified in its entirety by reference to the Waiver, a duplicate of which has been filed underneath the Firm’s SEDAR+ and EDGAR profiles at www.sedarplus.ca and www.sec.gov, respectively. The foregoing additionally ought to be learn along with the disclosures set forth within the Firm’s Annual Report on Type 20-F for the yr ended September 30, 2023 as filed with the Securities and Alternate Fee and underneath the Firm’s SEDAR+ profile on January 31, 2024, together with the disclosures set forth underneath “Merchandise 3.D – Key Data – Danger Components” contained therein.

Moreover, the Firm has obtained indications of curiosity from a number of of its principal shareholders to take a position an combination of as much as US$9.7 million within the Firm, topic to sure situations to be agreed upon, together with the Firm elevating an quantity of out of doors capital by means of a proposed financing transaction (the “Financing Transaction”). As a result of indications of curiosity usually are not binding agreements or commitments to buy, there will be no assurance that such present shareholders will make investments their full indication of curiosity, or any quantity in any respect, within the Financing Transaction, or that the Firm will efficiently full the Financing Transaction in an quantity adequate to satisfy the situations to be established for any such funding by such present shareholders, or in any respect. Any debt or fairness securities to be provided and offered within the Financing Transaction is probably not registered underneath the Securities Act of 1933, as amended, or state securities legal guidelines and is probably not provided or offered in the USA absent registration with the Securities and Alternate Fee or an relevant exemption from such registration necessities. This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase any securities within the Financing Transaction, nor shall there be any sale of such securities in any jurisdiction by which such provide, solicitation or sale could be illegal previous to the registration or qualification underneath the securities legal guidelines of any such jurisdiction.

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About LeddarTech

A world software program firm based in 2007 and headquartered in Quebec Metropolis with further R&D facilities in Montreal and Tel Aviv, Israel, LeddarTech develops and offers complete AI-based low-level sensor fusion and notion software program options that allow the deployment of ADAS, autonomous driving (AD) and parking purposes. LeddarTech’s automotive-grade software program applies superior AI and laptop imaginative and prescient algorithms to generate correct 3D fashions of the atmosphere to attain higher choice making and safer navigation. This high-performance, scalable, cost-effective expertise is on the market to OEMs and Tier 1-2 suppliers to effectively implement automotive and off-road car ADAS options.

LeddarTech is chargeable for a number of remote-sensing improvements, with over 150 patent purposes (80 granted) that improve ADAS, AD and parking capabilities. Higher consciousness across the car is essential in making international mobility safer, extra environment friendly, sustainable and inexpensive: that is what drives LeddarTech to hunt to turn out to be essentially the most extensively adopted sensor fusion and notion software program answer.

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Further details about LeddarTech is accessible at www.LeddarTech.com and on LinkedIn, Twitter (X), Fb and YouTube.

Contact:

Daniel Aitken, Vice-President, World Advertising and marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com

Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and associated logos are logos or registered logos of LeddarTech Holdings Inc. and its subsidiaries. All different manufacturers, product names and marks are or could also be logos or registered logos used to establish services or products of their respective homeowners.

LeddarTech Holdings Inc. is a public firm listed on the Nasdaq underneath the ticker image “LDTC.”

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