April 6, 2022, News: 6 million non-brokered private placemen Earth Alive announces closing of $6.1 million Private Placement
Montreal, Canada, April 6, 2022 – Earth Alive Clean Technologies Inc. (TSXV: EAC – “Earth Alive” or the “Company”) announced today the closing of a non-brokered private placement (the “Offering”) of units (the “Units”) raising gross proceeds of $6,112,000. Under the terms of the Offering, a total of 101 866 666 Units are issued at a price of $0.06 per Unit. Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Common Share upon payment of the exercise price of $0.09 per share until April 6, 2024.
“This investment not only strengthens Earth Alive’s balance sheet, but it enables us to accelerate our accretive growth strategy,” said Nikolaos Sofronis, Chief Executive Officer, Earth Alive.“In the near-term we plan to add several new innovative products to our current portfolio in response to the urgent needs of today’s ecological transition. We are also actively considering various acquisitions or joint venture opportunities and, with a view to access new markets, we intend to strengthen our sales and technical teams.”