(TheNewswire)
Vancouver, British Columbia / TheNewswire / March 9,
2018 - Green 2 Blue Energy Corp. (CSE:GTBE, FWB:1NZ.F) (" G2BE " or
the " Company ") announces it has closed a non-brokered private placement financing
of units (the “ Units ”) for gross proceeds of $1,638,750 (the “
Offering ”).
Pursuant to the Offering, the Company issued 6,555,000 Units at a price of
$0.25 per Unit. Each Unit consisted of one common share in the capital of the Company (a “ Share
”) and one common share purchase warrant (a “ Warrant ”), whereby
each Warrant entitles the holder thereof to purchase one additional Share (a “ Warrant Share
”) at a price of $0.35 per Warrant Share for a period of 24 months from the date of issuance.
In connection with the Offering, the Company paid cash finders’ fees of $83,900 and
issued 335,600 finders’ warrants (the “ Finders Warrants ”). Each Finder’s Warrant entitles
the holder thereof to purchase one additional Share (a “ Finder’s Share ”) at a price of $0.35
per Finder’s Share until March 9, 2020.
The securities issued pursuant to the Offering - including the Shares and Warrants underlying the Units, the
Warrant Shares underlying the Warrants, and the Finders’ Shares underlying the Finders’ Warrants - will be subject to a statutory
hold period expiring July 10, 2018.
The net proceeds received from the Private Placement will be used for working capital and general
corporate purposes.
About G2BE
G2BE is a renewable energy company focused on residential and commercial wood pellet production and the
implementation of biomass gasification technology to generate combined heat and power. G2BE's wood pellets are sold to retail
outlets and power producers throughout Europe, including the United Kingdom, Germany, Poland, Italy and Denmark.
On Behalf of the Board of Directors
“Slawek Smulewicz”
Slawek Smulewicz
Chief Executive Officer and Director
For more information, please contact:
Glenn Little
Director, Corporate Communications
Telephone: (604) 539-5023
The Canadian Securities Exchange has neither
approved nor disapproved the information contained herein.
This news release contains “forward-looking information” within the meaning of applicable securities
laws. The Company has provided the forward-looking information, including, without
limitation, statements relating to the use of proceeds of the Offering, in reliance on assumptions that it
believes are reasonable at this time. Although the Company believes in light of the experience of its
officers and directors, current conditions and expected future developments and other factors that have been considered appropriate
that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them
because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially
from those contemplated by these statements depending on, among other things, changes in general economic,
market, or business conditions, and those risks set out in the Company's public documents filed on SEDAR. The forward-looking
statements contained in this news release are made as of the date hereof and the Company does not undertake
to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as
required by applicable securities laws.
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