Alkaline Fuel Cell Power Corp., a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce a private placement offering of units of the Company (“Units”) at a price of $0.06 per Unit (the “Offering”).
The aggregate minimum gross proceeds of the Offering is $150,000 and the aggregate maximum gross proceeds of the Offering is $1,200,000.
Each Unit will be comprised of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Share (a “Warrant Share”) at a price of $0.15 per Warrant Share for a period of 24 months from the Closing Date (as defined herein).
The Company intends to use the aggregate gross proceeds from the Offering for acquisition capital, development capital for PWWR Flow Stream CHP projects and manufacturing capital for its wholly owned subsidiary Fuel Cell Power NV, as well as for general administrative and working capital expenses. The Company expects to close the Offering on or before January 13, 2023 (the “Closing Date”).
Alkaline Fuel Cell Power may pay a finder’s fee in connection with the Offering to eligible arm’s length finders in accordance with the policies of the NEO Exchange.
The Offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 Prospectus Exemptions and therefore the securities issued in the Offering will not be subject to a hold period in accordance with applicable Canadian securities laws.