Clear Blue Technologies Announces Proposed Amendments to Outstanding 10% Unsecured Convertible Debentures
13 October 2022 - 10:30PM
Clear Blue Technologies International Inc. (the
“
Company” or “
Clear Blue”)
(TSXV:CBLU) (Frankfurt:0YA) is pleased to announce that it has
reached an agreement with holders of its outstanding 10% unsecured
convertible debentures (the "Debentures") to amend the terms of the
Debentures as follows (the "Proposed Amendments"):
- Extending the maturity date of the
Debentures from November 1, 2022 to November 1, 2024;
- Increasing the interest rate under
the Debentures from 10% to 12% per annum; and
- Decreasing the exercise price of
the common share purchase warrants forming part of the units
issuable on conversion of the Debentures from $0.35 per common
share to $0.32 per common share; provided, however, that this
amendment will not apply to Debentures held by insiders of the
Company.
No other terms of the Debentures are proposed to
be amended. The Proposed Amendments are subject to all required
third party approvals including, without limitation, the approval
of the TSX Venture Exchange (the "TSXV"). The Company will issue a
further release upon receipt of the approval of the TSXV.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
described in this news release. Such securities have not been, and
will not be, registered under the U.S. Securities Act, or any state
securities laws, and, accordingly, may not be offered or sold
within the United States, or to or for the account or benefit of
persons in the United States or “U.S. Persons”, as such term is
defined in Regulation S promulgated under the U.S. Securities Act,
unless registered under the U.S. Securities Act and applicable
state securities laws or pursuant to an exemption from such
registration requirements.
About Clear Blue Technologies International (TSXV:
CBLU)Clear Blue delivers clean, managed, wireless power –
anywhere and anytime. Using patented Smart Off-Grid technology,
delivered through the Energy-as-a-Service business model, to manage
lighting, telecom, Internet of Things devices, and other critical
systems worldwide. Clear Blue has thousands of systems under
management across 37 countries, including the U.S. and Canada.
Clear Blue is publicly traded on the Toronto Venture Exchange under
the symbol CBLU, on the Frankfurt Stock Exchange (FRA: 0YA) and on
the OTC venture exchange (OTCQB: CBUTF). Learn more at
www.clearbluetechnologies.com.
Investor Relations:Miriam TuerkCo-Founder and
CEO+1-416-433-3952miriam@clearbluetechnologies.comwww.clearbluetechnologies.com/en/investors
Nikhil Thadani, Sophic Capital+1 437 836
9669Nik@SophicCapital.com
Forward-Looking Statement
This press release contains certain
"forward-looking information" and/or "forward-looking statements"
within the meaning of applicable securities laws. Such
forward-looking information and forward-looking statements are not
representative of historical facts or information or current
condition, but instead represent only Clear Blue’s beliefs
regarding future events, plans or objectives, many of which, by
their nature, are inherently uncertain and outside of Clear Blue's
control. Generally, such forward-looking information or
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or may contain
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "will continue", "will occur"
or "will be achieved". The forward-looking information contained
herein may include, but is not limited to, information concerning
the Proposed Amendments and receipt of TSXV approval of the
Proposed Amendments.
By identifying such information and statements
in this manner, Clear Blue is alerting the reader that such
information and statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Clear Blue to be
materially different from those expressed or implied by such
information and statements.
An investment in securities of Clear Blue is
speculative and subject to several risks including, without
limitation, the risks discussed under the heading "Risk Factors" in
Clear Blue's listing application dated July 12, 2018. Although
Clear Blue has attempted to identify important factors that could
cause actual results to differ materially from those contained in
the forward-looking information and forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended.
In connection with the forward-looking
information and forward-looking statements contained in this press
release, Clear Blue has made certain assumptions. Although Clear
Blue believes that the assumptions and factors used in preparing,
and the expectations contained in, the forward-looking information
and statements are reasonable, undue reliance should not be placed
on such information and statements, and no assurance or guarantee
can be given that such forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such information
and statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release. All subsequent written and oral forward-
looking information and statements attributable to Clear Blue or
persons acting on its behalf is expressly qualified in its entirety
by this notice.
Legal Disclaimer
Neither 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.
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