Clear Blue Technologies International Inc. (“Clear Blue” or the
“Company”) (TSXV: CBLU), the Smart Off-Grid™ Company, announced via
press release on January 27, 2023, that it has closed a second and
final tranche of a non-brokered private placement (the “Offering”)
on January 24, 2023. The second tranche raised CAD$1,304,420 in
proceeds, following a CAD$1,269,667 first tranche that closed on
December 20, 2022. Total gross proceeds for the two tranches were
CAD$ 2,574,086. The total number of shares and warrants issued for
both tranches were 36,772,663 and 36,772,663, respectively.
The Company also paid cash finder’s fees in the
amount of CAD$61,230.40 to certain arm’s length third parties, and
issued 727,020 finder warrants, in each case representing
approximately 7% of the gross proceeds of the entire Offering. Each
whole finder warrant is exercisable at any time prior to 5:00 p.m.
(Toronto time) on the date that is 60 months following the date of
issue of each respective tranche at a price of $0.07 per Common
Share, subject to accelerated expiration in accordance with the
terms of the certificates governing the finder warrants.
All securities issued pursuant to the Offering
are subject to a hold period of four months and one day pursuant to
applicable securities laws. Completion of the Offering remains
subject to the final approval of the TSXV.
Certain directors and officers of the Company
(collectively, the "Insiders") have participated in the Offering
and, as such, the Offering may constitute a related party
transaction under Multilateral Instrument 61-101 – Protection of
Minority Security Holders in Special Transactions ("MI 61-101"),
but is otherwise exempt from the formal valuation and minority
approval requirements of MI 61-101 by virtue Sections 5.5(b) and
5.7(1)(a) of MI 61-101 in respect of such Insider participation in
the Offering. No special committee was established in connection
with the Offering or the participation of the applicable officers
and directors in the Offering, and no materially contrary view or
abstention was expressed or made by any director of the Company in
relation thereto. Further details will be included in a material
change report that will be filed by the Company in connection with
the completion of the Offering. The Company did not file the
material change report more than 21 days before the initial closing
date of the Offering as the terms of the Offering and the total
amount to be invested by the applicable officers and directors were
not settled until shortly prior to the initial closing of the
Offering, and the Company wished to complete the initial closing of
the Offering on an expedited basis for sound business reasons.
About Clear Blue Technologies
International
Clear Blue Technologies International, the Smart
Off-Grid™ company, was founded on a vision of delivering clean,
managed, “wireless power” to meet the global need for reliable,
low-cost, solar and hybrid power for lighting, telecom, security,
Internet of Things devices, and other mission-critical systems.
Today, Clear Blue has thousands of systems under management across
37 countries, including the U.S. and Canada.
Forward-Looking Information and
Statements
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 completion of the eSite acquisition and the Offering,
and the intended use of the gross proceeds of the Offering.
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.
Media Contact & Investor
Relations:
Miriam TuerkCo-Founder and CEO
investors@clearbluetechnologies.comhttp://www.clearbluetechnologies.com/en/investors+1
(647) 748-4822
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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