Clear Blue Technologies Provides Update on Convertible Debenture Financing and Hires Company to Drive Social Media Engagement
TORONTO, January 7, 2022 (GLOBE NEWSWIRE) – Clear Blue Technologies International Inc. (âClear Blueâ) (TSXV: CBLU), the Smart Off-Grid â¢ company, today announces a bond issue adjustment previously announced convertible unsecured subordinated debentures in 2021. The Company has completed a private placement of unsecured convertible subordinated debentures (the “Debentures“) for gross proceeds of C $ 2,799,000. Upon completion of the second tranche and cumulative gross proceeds of C $ 4,334,000 (the”Offerâ), The Company still exceeded the cumulative funding target of C $ 4 million previously announced on October 29, 2021.
As a result of this change, the corrections to the finder’s fees and broker’s warrants announced previously, for the introduction of certain subscribers to the Offer, are as follows. The Company paid finder’s fees in cash, totaling $ 131,180, and broker’s warrants, totaling 319,200 warrants, each broker’s warrant entitling its 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 announce that it has signed a contract with Triomphe Holdings Ltd., the parent company of Capital Analytica, for ongoing social media viewing. 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 expense of C $ 120,000 over a 6 month period, with the possibility of ‘a follow-up service contract. No stock-based compensation was provided.
About Clear Blue Technologies International
Clear Blue Technologies International, the Smart Off-Grid â¢ company, was founded on the vision to provide clean and managed ‘wireless power’ to meet the global need for reliable and inexpensive solar and hybrid power for lighting, telecommunications and security. , Internet of Things devices and other critical systems. Today, Clear Blue manages thousands of systems in 37 countries, including the United States and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)
For more information, contact:
Nikhil Thadani, Sophistic Capital
+1 437 836 9669
Neither the 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.
âThe participation in the Offer by Paul Desjardins, Jason Woerner, Steven Parry, Jane Kearns and Mark Windrim, each of whom is an officer and / or director of Clear Blue (theâ related parties â), constituted a related party transaction as defined under Multilateral Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101”). Notwithstanding the above, the issuance of securities to related parties was exempt from the formal valuation requirements of section 5.4 of MI 61-101 in accordance with subsection 5.5 (a) of MI 61-101 and the requirements of Minority shareholder approval of section 5.6 of MI 61-101 in accordance with subsection 5.7 (1) (a) of NI 61-101. “