Pool Safe raises $3.02M via private placements to fund inventory, debt repayment, and working capital

Pool Safe Inc. has closed private placements raising about $3.02 million through common shares and senior secured convertible debentures. The funds will be used to purchase inventory for its LounGenie product deployments, repay existing debt, and support general working capital. The convertible debentures carry a 12% annual interest rate and can convert to shares at $0.50 each. The company seeks final approval from the TSX Venture Exchange and insiders participated under fair market terms.