NEWS: PlasCred Strategic Equity Agreement w/ Nimbus CapitalPlasCred Circular Innovations Inc. Announces Strategic Growth Equity Agreement with Nimbus Capital CALGARY, ALBERTA – April 29
th, 2024 - PlasCred Circular Innovations Inc. (the “
Company” or "
PlasCred") (CSE: PLAS) (FSE: XV2), a transformative leader in the plastic waste upcycling sector, has entered into a Growth Equity Agreement (“
Agreement”) with Nimbus Capital (“
Nimbus”), a Panama-based private investment group that specializes in financing disruptive firms that pave the path towards global decarbonization. Nimbus manages a diverse portfolio of investment vehicles, providing flexible and innovative funding solutions to growing businesses worldwide.
Under the terms of the agreement, Nimbus have committed to purchasing common shares with the potential total investment reaching up to CAD $10,000,000. This investment will be directed towards various corporate needs including engineering and design, research and development, operational expenses, and other general corporate purposes. The agreement provides PlasCred with the flexibility to issue these securities as needed over the next thirty-six months, while Nimbus has committed to subscribe and pay for the securities.
Troy Lupul, President & CEO of PlasCred, commented saying, "This financial backing from Nimbus is a crucial endorsement of our innovative approach to upcycling plastic waste. The investment will fuel the advancement of our patent pending technology, enhance our operational capabilities, and accelerate our North American and global expansion. This strategic financial partnership is key to our goal of becoming a leader in the advanced plastic waste upcycling sector."
The Growth Equity Agreement is subject to approval of the CSE Exchange, and all shares and securities of the Company issued pursuant to the Growth Equity Agreement will be subject to a four month plus a day hold period from the date of issuance.
This strategic initiative will raise funds to advance their patent pending low-cost upcycling process, which transforms up to 80% of unsorted, unwashed waste plastic into renewable green condensate and other commercial end products. With an ambitious vision of becoming a leading advanced plastic waste upcycler in North America and globally, PlasCred's approach leverages partnerships with industry leaders for supply chain logistics, including CN Rail, Palantir Technologies Inc., and Fibreco Export Inc., and focuses on environmental sustainability through plastic and carbon credits.
Nimbus’s partnership with PlasCred supports PlasCred’s potential expansion into Panama, a move that aligns with PlasCred’s strategic growth objectives, including the possibility of building a Maximus facility there. Panama’s unique geographical location, bridging two oceans and serving as a vital link between North and South America, offers exceptional benefits for logistics and the facilitation of global trade. The country boasts a USD-based economy and is an international banking center, further enhancing its global business appeal. Additionally, Panama hosts the second largest Free Zone in the world, providing substantial incentives for international businesses. Its strong infrastructure, highlighted by the busy Panama Canal, emphasizes its significance in global commerce. By potentially establishing a Maximus site in Panama, PlasCred aims to enhance its operational efficiency and flexibility, positioning itself as a global solution to the world’ plastic waste problem.
About Nimbus Capital Nimbus Capital is a private investment group focused on cross-border transactions. The group offers flexible and innovative funding solutions to growing businesses across the globe. The firm is led by experienced managers with successful track records in the international markets, and backed by In On Capital, a boutique wealth management firm with over USD $1.2 billion in AUM.
For more information:
https://www.nimbuscapitalfund.com/ About PlasCred Circular Innovations Inc. PlasCred is at the forefront of rebalancing the future of plastics. The company is transforming plastic waste by granting it a valuable second life. With a vision of advancing towards a climate-positive future, PlasCred aspires to be among the largest advanced plastic waste upcycler’s in North America and globally. Their groundbreaking patent-pending technology is set to revolutionize the approach to plastic waste management and upcycling.
PlasCred is also developing strategic partnerships with CN Rail, Palantir Technologies Inc., and Fibreco Export Inc., providing PlasCred with unparalleled operational intelligence and logistics support across North America and globally for transportation and handling of plastic waste. Further information on PlasCred, see their YouTube channel and website located at
https://www.youtube.com/@PlasCredInc and
https://www.PlasCred.com