Clear Blue Technologies Secures $2.2 Million Financing Round
Clear Blue Technologies Finalizes $2.2 Million Financing
Clear Blue Technologies International Inc. (TSXV: CBLU), known for its innovative Smart Off-Grid™ solutions, has successfully completed the second and final tranche of its private placement offering, raising an impressive $2.2 million. This financing effort demonstrates Clear Blue's commitment to driving growth and enhancing its capabilities in providing reliable, low-cost energy solutions globally.
Details of the Financing
The offering comprised unsecured convertible debentures, with total subscriptions amounting to $800,578 in the second tranche, culminating in a gross total of $2.206 million across both tranches. Each debenture was priced at $1,000, with a robust interest rate of 14% per annum for a maturity period of 36 months.
Opportunity for Investors
Investors have the option to convert these debentures into units of Clear Blue, which include common shares and purchase warrants at competitive prices. Specifically, each unit will consist of one common share and half of a warrant, allowing holders to acquire additional shares at $0.15 per share, an attractive prospect for potential returns.
Insider Participation
Notably, several insiders of Clear Blue participated in this offering, positioning themselves as stakeholders in the company's forward momentum. The transaction is classified as a related party transaction under Multilateral Instrument 61-101 but is exempt from formal valuation and minority approval requirements.
Use of Proceeds
The capital raised will primarily support working capital needs and further enhance the operational framework of Clear Blue Technologies. The company aims to capitalize on its existing infrastructure and expand its clean energy solutions across many sectors, adding more value to its investors and clientele.
Company Vision and Scope
Clear Blue Technologies was founded on the vision of providing clean, managed wireless power solutions to meet the growing global demand for dependable solar and hybrid power. The company's commitment to innovation and quality service has resulted in thousands of systems deployed across multiple countries, signifying its dedication to leading in the smart off-grid electricity space.
Commitment to Sustainable Development
As part of its mission, Clear Blue focuses on sustainable development by enhancing accessibility to essential power solutions for various applications, including lighting, telecommunications, and Internet of Things (IoT) devices. These initiatives not only foster economic growth but also promote environmental sustainability worldwide.
Conclusion
With this latest financing round, Clear Blue Technologies International Inc. is well-positioned to grow and improve its service offerings, ensuring its readiness to meet emerging energy needs in a rapidly changing global landscape. Investors looking for opportunities in the sustainable energy sector should keep a close watch on Clear Blue's upcoming ventures and developments.
Frequently Asked Questions
What was the total amount raised in this financing round?
Clear Blue Technologies successfully raised a total of $2.2 million across both tranches of the offering.
What are the terms of the convertible debentures?
The debentures carry a 14% annual interest rate and are convertible into company units at a price of $0.10 per Unit.
How will the proceeds from the financing be used?
The proceeds will be utilized for working capital purposes to enhance operational capabilities.
Who participated in this financing?
Certain directors and officers of Clear Blue participated as insiders in this financing round.
What is Clear Blue Technologies' main mission?
Clear Blue aims to provide clean, managed wireless power solutions to meet growing global energy needs through innovative solar and hybrid power technologies.
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