BluSky Carbon Inc. Announces Up To $3.0 Million Brokered Private Placement Offering of Special Warrants
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OLD SAYBROOK, Conn. and VANCOUVER, British Columbia, Nov. 05, 2024 (GLOBE NEWSWIRE) -- BluSky Carbon Inc. (CSE:BSKY) ("BluSky" or the "Company") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as lead agent and sole bookrunner (the "Agent"), in connection with a best-efforts private placement offering (the "Offering") of up to 6,000,000 special warrants of the Company (the "Special Warrants") at a price of $0.50 per Special Warrant (the "Offering Price"), for gross proceeds of up to $3,000,000.
Each Special Warrant will be exercisable, for no additional consideration, into one unit of the Company (the "Units") on the earlier of: (i) four months and one day following the closing date of the Offering, or (ii) the fifth business day after the Company obtains a receipt for a final prospectus qualifying the distribution of the Units issuable upon the conversion of the Special Warrants.
Each Unit will be comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share (each, a "Warrant Share") at an exercise price of $0.65 for a period of 24 months.
The Company has granted the Agent an option (the "Agent's Option") to purchase up to an additional 15% of the number of Special Warrants issued pursuant to the Offering, exercisable at any time, and from time to time, prior to the Closing (as defined hereafter) of the Offering.
The net proceeds raised under the Offering are intended to be used for corporate development and general working capital purposes.
The Offering is intended to take place to qualified investors in all provinces of Canada, except Quebec, and in such other jurisdictions as the parties may agree.
As soon as reasonably practicable after the Closing, the Company will use reasonable commercial efforts to prepare and file with each of the securities regulatory authorities in each of the provinces of Canada, other than Quebec, in which the ...
