Clear Blue Closes Convertible Debenture Financing
10/29/21, 7:15 AM
Location
torontoClear Blue Technologies International Inc. (TSXV: CBLU) (the "Company") is pleased to announce that it has completed a private placement offering of convertible unsecured subordinated debentures (the “Debentures”) for gross proceeds of C$1,535,000 (the “Offering”). The Company may complete additional tranches of the Offering for cumulative gross proceeds of up to $4 million.
Company Info
Location
toronto, ontario, canada
Additional Info
Beginning on the date that is twelve months following the initial Closing Date, but subject to receipt of any required approvals, the Company will have the right to accelerate the maturity of the Debentures to a date which is not less than 21 days after the date on which a written notice is provided to the holders of Debentures should the daily volume weighted average trading price of the Common Shares be greater than $1.20 (subject to adjustment in certain events) for any 10 consecutive trading days on the TSX Venture Exchange (the "TSXV"). Beginning on the date that is twelve months following the initial Closing Date, but subject to receipt of any required approvals, the Company will have the right to accelerate the expiry date of the Warrants to a date which is not less than 21 days after the date on which a written notice is provided to the holders of Warrants should the daily volume weighted average trading price of the Common Shares be greater than $1.20 (subject to adjustment in certain events) for any 10 consecutive trading days on the TSXV. Today, Clear Blue has thousands of systems under management across 37 countries, including the U.S. and Canada.