Calgary, Alberta, and San Antonio, Texas — Nexera Energy Inc. (OTC Pink: EMBYF), referred to as “Nexera” or “the Company,” has announced plans for a non-brokered private placement aimed at raising up to $600,000. This initiative will allow for the issuance of a maximum of 40,000,000 common shares. Under this offering, investors can subscribe to units priced at $0.015 each, with each unit comprising one common share and one share purchase warrant. These warrants grant the holder the right to purchase an additional common share for $0.10 within 24 months following the issuance of the units.
Warrant Expiry Acceleration Clause
The warrants come with an acceleration provision that can shorten their term. If, after a period of four months and one day from their issuance, the common shares of the Corporation see a closing price of $0.15 or more for 30 consecutive trading days, the expiry date of the warrants will move up to 30 days after a press release announcing this change is issued. The Corporation will ensure that this press release and subsequent notices to all warrant holders occur within five business days following the triggering price point.
Utilization of Proceeds from the Offering
The funds raised from this offering will be directed towards enhancing the operations of Nexera’s wholly owned subsidiary, Production Resources Inc. (PRI). Specifically, the proceeds will support an expansion of oil and gas services and a well optimization initiative that aims to reactivate around thirty currently dormant wells in the Taylor Ina and Somerset fields. Additionally, PRI plans to invest in new equipment to broaden its cement services capabilities, which will not only aid in servicing the Corporation’s own wells but also create potential revenue streams by serving other operators in the region, where demand is significant.
Planned Allocation of Funds
Nexera has outlined specific allocations for the net proceeds from the offering: $140,000 will go towards purchasing and refurbishing equipment, $280,000 will fund the well optimization program, and $100,000 will be allocated for labor costs. Any remaining funds will be reserved for working capital purposes.
Regulatory Compliance and Hold Period
All common shares and warrants issued through this private placement will be subject to a four-month holding period. It is important to note that the warrants will not be listed on any stock exchange, and the completion of this offering is contingent upon receiving final approval from the TSX Venture Exchange.
Company Overview
Nexera Energy Inc. is engaged in the energy sector, focusing on oil 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 company also based in South Texas.
Forward-Looking Statements Disclaimer
This announcement contains forward-looking statements that reflect the Company’s expectations regarding future events and financial outcomes. While Nexera believes these projections are reasonable, there is no guarantee they will materialize. Actual results may differ significantly due to various risks and uncertainties. The Company does not intend to update these statements unless legally required, and readers should not overly rely on them.
Disclaimer Regarding Regulatory Responsibility
Neither the TSX Venture Exchange nor its Regulation Services Provider assumes responsibility for the completeness or accuracy of this press release.
