#EnerPure #Announces #Private #Placement #Raise
Winnipeg, MB, Oct. 03, 2022 (GLOBE NEWSWIRE) —
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES
EnerPure Inc. (“EnerPure” or the “Company”), a Manitoba cleantech company, is pleased to announce that it has engaged Ascenta Finance Corp. (AscentaFinance.com), in cooperation with Moneta Advisory Partners (MonetaPartners.ca), to lead a private placement on its behalf pursuant to which EnerPure will issue up to 14,285,714 units of the Company (the “Units”) priced at $0.70 per Unit to raise aggregate gross proceeds of up to $10,000,000. The private placement may be increased at EnerPure’s discretion. Each Unit will be comprised of one common share and one half of one non-transferable share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable at $1.20 for a period expiring the earlier of: (i) 12 months from a public listing liquidity event or, (ii) 10 business days from the date that the Company provides written notice of a sale liquidity event.
Proceeds of the private placement will be used as follows:
| Pursue Public Listing on a Canadian Stock Exchange | $ | 850,000 |
| Existing Regeneration Plant (Barney 1) – Capacity Increases & Tank Farm Upgrades | $ | 150,000 |
| Planning / Design for Future Regeneration Plants (Barney 2+) | $ | 2,700,000 |
| Project & Business Development (Barney 2 – 5) | $ | 550,000 |
| Staff to support development & growth | $ | 625,000 |
| Cost of Capital | $ | 700,000 |
| Working Capital, General & Admin | $ | 4,425,000 |
| $ | 10,000,000 |
Securities issued pursuant to the financing will be subject to a statutory 4 month hold period.
Todd Habicht, CEO and Founder commented: “The continued progress of EnerPure has positioned us well for a successful capital raise and we are eager to capitalize on this exciting next phase of growth. We are ready to begin rolling out our technology across North America and these funds will allow us to aggressively implement our plans.”
About the Company
EnerPure is a Manitoba…
Read on GNW: EnerPure Inc. Announces Private Placement to Raise $10
