Nexera Energy Completes Private Placement
Calgary, Alberta, and San Antonio, Texas—Nexera Energy Inc. (TSXV: NGY) (OTC Pink: EMBYF), referred to as the “Company” or “Corporation,” has successfully finalized its previously announced non-brokered private placement. The transaction involved the issuance of 24,000,000 units (“Units”) at a price of $0.025 per Unit, bringing in a total of $600,000. Notably, 4,900,000 of these Units were purchased by the Corporation’s directors and officers. Each Unit comprises one Common Share and one share purchase warrant (the “Warrant”), with the Warrant allowing the holder to purchase an additional Common Share at a price of $0.10 for a period of 24 months from the issuance date.
Warrant Terms and Conditions
The Warrants are equipped with an acceleration clause that activates after a period of four months and one day from their issuance. If the closing price of the Corporation’s Common Shares reaches or surpasses $0.15 for 30 consecutive trading days, the expiry date of the Warrants will be moved up to 30 days after a press release announces this change, as long as the press release is issued within five business days following the designated Eligible Acceleration Date.
Utilization of Proceeds
The proceeds from this Offering are earmarked for use by the Corporation’s wholly owned subsidiary, Production Resources Inc. (“PRI”), to enhance its oil and gas service offerings. PRI plans to invest in new equipment to broaden its cement services division, which will allow it to expand well servicing operations. This additional equipment is expected to benefit both the Corporation’s own wells and generate extra revenue by servicing other operators in the region, where management sees a strong demand for such services. The anticipated allocation of the net proceeds includes: (i) $390,000 for equipment purchases, (ii) $60,000 for equipment refurbishment, (iii) $100,000 for labor, and (iv) any remaining funds directed towards working capital.
Regulatory Compliance and Hold Period
All Common Shares and Warrants issued in this private placement will be subject to a four-month hold period. Additionally, the Warrants will not be listed on any stock exchange. The completion of this Offering is still pending final approval from the TSX Venture Exchange.
About Nexera Energy Inc.
Nexera Energy Inc. (TSXV: NGY) is an energy firm focused on oil production in Southwest Texas. The Company operates the Lavernia, Wooden Horse, and Stockdale Horizon Projects and has full ownership of Production Resources Inc., a South Texas oil enterprise.
Forward-Looking Statements
This communication includes forward-looking statements, apart from historical facts, regarding the timing of financial statement filings. While the Company believes these expectations are reasonable, there is no guarantee that they will be realized. Future results, performance, or achievements may differ significantly from those projected. The forward-looking statements are based on management’s opinions and estimates at the time they are made and are subject to various risks and uncertainties that could lead to actual results deviating materially. This cautionary note qualifies all forward-looking information contained in this announcement. Except as mandated by applicable securities regulations, the Company has no obligation to update these statements in light of changes in circumstances or management’s views. Readers are advised not to place undue reliance on these forward-looking statements. Neither the TSX Venture Exchange nor its regulatory service provider assumes responsibility for the accuracy or adequacy of this release.
