Clear Blue Technologies Provides Update to Convertible Debenture Financing and Engages Firm to Drive Social Media Engagement
January 07 2022 - 10:11PM
Clear Blue Technologies International Inc. (“Clear Blue”) (TSXV:
CBLU), the Smart Off-Grid™ Company, today announces an adjustment
to the previously announced issuance of convertible unsecured
subordinated debentures in 2021. The Company completed a private
placement offering of convertible unsecured subordinated debentures
(the
“Debentures”) for gross proceeds of
C$2,799,000. With the second tranche completed, and cumulative
gross proceeds of C$4,334,000 (the “
Offering”),
the Company still exceeded the cumulative funding target of C$4
million, previously announced on October 29, 2021.
As a result of this change, corrections in the
previously announced finders’ fees and broker warrants, for
introducing certain subscribers to the Offering, are as follows.
The Company paid finders’ fees in cash, totaling $131,180, and in
broker warrants, totaling 319,200 warrants, with each broker
warrant entitling the holder to acquire one Common Share for a
period of 48 months at a price per share of $0.40.
The Company also wishes to announces that it has
signed a contract with Triomphe Holdings Ltd., the parent company
of Capital Analytica, for ongoing social media consultation. The
services provided by Capital Analytica will include press
initiatives and social media consulting, as well as engagements
with arm's length parties for an aggregate gross expenditure of CDN
$120,000 over a 6-month period, with the potential for a follow-on
service contract. No stock-based compensation has been
provided.
About Clear Blue Technologies International
Clear Blue Technologies International, the Smart Off-Grid™
company, was founded on a vision of delivering clean, managed,
“wireless power” to meet the global need for reliable, low-cost,
solar and hybrid power for lighting, telecom, security, Internet of
Things devices, and other mission-critical systems. Today, Clear
Blue has thousands of systems under management across 37 countries,
including the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB:
CBUTF)
For more information, contact:
Miriam Tuerk, Co-Founder and CEO+1 416 433
3952investors@clearbluetechnologies.comwww.clearbluetechnologies.com/en/investors
Nikhil Thadani, Sophic Capital+1 437 836
9669Nik@SophicCapital.com
Legal Disclaimer
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
“The participation in the Offering of Paul
Desjardins, Jason Woerner, Steven Parry, Jane Kearns, and Mark
Windrim, each of whom is an officer and/or director of Clear Blue
(the “Related Parties”), constituted a related party transaction as
defined under Multilateral Instrument 61-101 - Protection of
Minority Security Holders in Special Transactions ("MI
61-101"). Notwithstanding the foregoing, the issuance of securities
to the Related Parties was exempt from the formal valuation
requirements of Section 5.4 of MI 61-101 pursuant to Subsection
5.5(a) of MI 61-101 and the minority shareholder approval
requirements of Section 5.6 of MI 61-101 pursuant to Subsection
5.7(1)(a) of MI 61-101.”
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