While the Company is only part of our Select Watchlist, it's one we feel our subscribers should be following closely. Paul Andreola will be participating in this offering and using it as an opportunity to get a more meaningful starter position.
A few highlights from Paul:
- Reminds him of an early Xebec Adsorption (XBC-TSX)
- Early and misunderstood business
- Not profitable and pre-commercialized technology
- A number of high-quality investors and management surrounding the company
- Bet the jockey scenario
- Underfollowed ESG business
- 52M O/S pre-financing
- Participation is for accredited investors only
The private placement is for 15,384,616 units at a price of $0.325 per unit (each a "Unit"). Each Unit will be comprised of one common share of the Company and one-half of one share purchase warrant. Each whole warrant (a "Warrant") will allow the holder to acquire an additional common share of the Company at a price of $0.40 per share for a period of two years from the date of closing of the Placement. Gross proceeds of $5,000,000.
