Charge Enterprises Secures $22.22 Million Of Debt And Preferred Equity Financing

Charge Enterprises Inc. (OTC PINK:CRGE), ("Charge" or the "Company"), consisting of a portfolio of global businesses with the vision of connecting people everywhere with communications and electric-vehicle charging ("EV") infrastructure, today announced that it has raised gross proceeds of $20 million through $22.22 million of face value debt and preferred equity financing from an institutional investor and its affiliated entities. Proceeds of the financing will be used, in part, to fund anticipated acquisitions. $14.81 million of the financing is in the form of original issue discount, senior secured, non-convertible promissory notes that pay a coupon of 7.5% per annum and mature on November 19, 2023