US pp closed - gotta love 5 year warrants below 52 wk high FuelPositive Announces Closing of CAD$5 Million Private Placement with U.S. Institutional Investors
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, June 17, 2021 (GLOBE NEWSWIRE) -- FuelPositive Corporation (“FuelPositive” or the “Company”) (TSX.V: NHHH) (OTCMKTS: NHHHF) is pleased to announce it has closed its previously announced subscription agreement with certain U.S. institutional investors for gross proceeds of approximately CAD$5 million in a private placement in the United States, comprised of 20,833,333 common shares and warrants to purchase an aggregate of up to 20,833,333 common shares at a purchase price of CAD$0.24 per common share and associated warrant. The warrants have an exercise price of CAD$0.275 per common share and exercise period of five years. The net proceeds of the private placement will be used by the Company to rapidly advance the production of the Company’s Phase 2 commercial clean NH3 demonstration systems and for general corporate purposes.
H.C. Wainwright & Co. acted as the exclusive placement agent for the private placement in the United States.
No securities were offered or sold to Canadian residents in connection with the private placement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release shall not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.
About FuelPositive
FuelPositive is a Canadian-based growth stage company committed to providing commercially viable and sustainable energy solutions, including clean ammonia (NH3), for use across a broad spectrum of industries, systems and applications.
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the 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.