Nexera Energy Inc. has announced the successful completion of its previously disclosed non-brokered private placement. The Calgary-based corporation issued a total of 24,000,000 units at a price of $0.025 each, gathering a total of $600,000 in funding. Notably, 4,900,000 units were acquired by the company’s directors and officers. Each unit is composed of one common share and one share purchase warrant, which allows the holder to purchase an additional common share for $0.10 within 24 months of issuance.
Details of the Offering
The offering includes an acceleration provision for the warrants. If, four months and a day post-issuance, the closing price of the common shares remains at or above $0.15 for 30 consecutive trading days, the warrant expiration will shift to 30 days after a press release announcing this change is issued. This press release must be distributed within five business days following the 30th trading day.
Utilization of Funds
The funds raised from this offering are earmarked for growth initiatives within Nexera’s wholly-owned subsidiary, Production Resources Inc. (PRI). The company intends to use the proceeds to purchase new equipment, which will enhance its cement services branch and facilitate increased well servicing operations. This investment is expected to benefit Nexera’s own wells while also allowing the company to generate additional revenue by servicing other operators’ wells, responding to a significant demand in the region.
Anticipated Allocation of Proceeds
Nexera Energy has outlined specific allocations for the net proceeds from the offering: $390,000 for equipment purchases, $60,000 for refurbishing existing equipment, and $100,000 for labor costs. Any remaining funds will be directed toward working capital needs. All common shares and warrants issued will be subject to a four-month holding period, and the warrants will not be listed on any stock exchange. This offering is still pending final approval from the TSX Venture Exchange.
Company Overview
Nexera Energy Inc. is engaged in the energy sector, primarily focusing on oil production in Southwest Texas. The company operates several projects, including Lavernia, Wooden Horse, and Stockdale Horizon, and fully owns Production Resources Inc., a South Texas oil enterprise.
Forward-Looking Statements
This announcement includes forward-looking statements regarding future financial performance and operational goals. While Nexera believes these expectations are reasonable, there is no guarantee that they will materialize, as actual outcomes may differ due to various risks and uncertainties. The company is not obligated to update these forward-looking statements unless required by securities laws. Investors are advised to exercise caution and not overly rely on these projections.
Neither the TSX Venture Exchange nor its regulatory service provider assumes responsibility for the accuracy or completeness of this announcement.
