CNTNR USA Inc. announced that it has entered into an agreement with a new lender, Hawkeye Systems, Inc. for an unsecured promissory note for gross proceeds of $1 million on April 5, 2023. The note has an annual interest rate of 12% and matures at the earlier of September 30, 2023, or the closing of a material debt or equity financing. The company will issue one warrant for every share issued in repayment at the closing of an intended merger with CNTNR. The warrants will have a 30% discount to the current trading price when exercised and will expire 36 months after April 5, 2023. In addition, the company will pay a monthly financial and administrative consulting fee of $5,000. The investor will charge a 5% commitment fee of the principal amount due upon signing.

On the same date, the company issued unsecured promissory note for gross proceeds of $0.2 million as its first tranche.