Specialty Liquid Transportation Corp. announced a private placement of units for gross proceeds of CAD 1,500,000 on April 12, 2018. Each unit will comprise of CAD 1,000 principal amount of 10% subordinated unsecured convertible debenture and such number of common share purchase warrants as is equal to CAD 1,000 divided by 3 times the purchase price of a subscription receipt offered in connection with the funding condition. Each warrant entitles the holder thereof to purchase 1 common share at an exercise price of CAD 0.45 for a period commencing on the day of the transaction closing and ending 18 months from the date of issuance. Each convertible debenture matures on the date that is 6 months from the date of issuance and automatically converts into the equivalent securities underlying the subscription receipts being offered in the funding condition immediately prior to the transaction closing. Transaction closing is also subject to satisfaction of various other conditions precedent including, but not limited to, receipt of all required regulatory, corporate, shareholder and third party approvals, including approval of the TSXV , approval of the shareholders of the company.