Nexera Energy Inc. Announces Private Placement Offering
Calgary, Alberta, and San Antonio, Texas – Nexera Energy Inc. (TSXV: NGY) (OTC Pink: EMBYF) has announced its plan to conduct a non-brokered private placement to raise as much as $600,000. The offering will consist of up to 40 million common shares of the company. Each common share will be part of units priced at $0.015 per unit, where each unit includes one common share and one share purchase warrant. Holders of the warrants will have the right to purchase an additional common share at a price of $0.10 for a duration of 24 months following the issuance of the units.
Details of the Offering and Warrant Acceleration Clause
The offering includes an acceleration provision for the warrants. If, after four months and one day from the issuance date, the closing price of the common shares reaches or exceeds $0.15 for 30 consecutive trading days, the expiration date of the warrants will be shortened. The new expiration will be 30 calendar days following a public announcement by the corporation concerning the change in the warrant term. This announcement must occur within five business days after the price condition is met.
Utilization of Proceeds from the Offering
The net proceeds from this offering are intended to support initiatives within the corporation’s wholly owned subsidiary, Production Resources Inc. (PRI). This includes expanding the company’s oil and gas service capabilities, as well as optimizing production at the Taylor Ina and Somerset fields, aiming to reactivate approximately thirty inactive wells. PRI will also invest in additional equipment to enhance its cement services division, which will not only support the corporation’s own operations but also generate extra revenue by servicing wells for other operators in the region, where demand is considered high.
Projected Allocation of Funds
The corporation has outlined a specific breakdown of how the net proceeds will be allocated: $140,000 for equipment purchases and refurbishments, $280,000 for the well optimization program, and $100,000 for labor costs. Any remaining funds will be directed towards working capital needs. All common shares and warrants issued through this private placement will be subject to a hold period of four months, and 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. is an oil and gas company focused on production in Southwest Texas. The company operates several projects, including the Lavernia, Wooden Horse, and Stockdale Horizon projects, and fully owns Production Resources Inc., a local oil enterprise.
Forward-Looking Statements
This announcement contains forward-looking statements regarding the timing of financial filings and other future expectations. While the company believes these expectations are reasonable, there is no guarantee that they will be met. Factors such as management’s opinions, risks, and uncertainties may lead to actual results differing from projections. The company does not commit to updating these forward-looking statements unless required by relevant securities regulations. Readers are advised to be cautious and not rely solely on forward-looking information. Neither the TSX Venture Exchange nor its Regulation Services Provider is responsible for the content or accuracy of this release.
