Nexera Energy Inc., based in Calgary, Alberta, and San Antonio, Texas, has announced plans for a non-brokered private placement intended to raise up to $600,000. This offering will involve the issuance of a total of 24,000,000 common shares, priced at $0.025 per share. Each unit offered in this placement will consist of one common share and one share purchase warrant, which grants the holder the right to acquire an additional common share for $0.10 within a two-year timeframe from the issuance date.
Details of the Offering
The warrants come with an acceleration clause. If, after four months and one day from their issuance, the closing price of the common shares reaches or exceeds $0.15 for 30 consecutive trading days, the expiration of the warrants will advance to 30 days following a press release announcing the change. This press release must be issued within five business days of reaching the eligible acceleration date, and all warrant holders will be notified accordingly.
Use of Proceeds
The funds raised will be directed towards the growth of the Company’s oil and gas services through its wholly-owned subsidiary, Production Resources Inc. The capital will be used specifically for acquiring new equipment to enhance the cement services division and expand well servicing operations. This strategic investment is expected to benefit Nexera’s own wells while also allowing the company to generate additional revenue by servicing other operators’ wells in the area, where management sees a strong demand.
Proceeds Allocation
Nexera plans to allocate the net proceeds from the offering in the following manner: $390,000 for equipment purchases, $60,000 for refurbishing existing equipment, and $100,000 for labor costs. Any remaining funds will be reserved for working capital needs.
Regulatory Compliance
All common shares and warrants issued under this private placement will be subject to a four-month hold period, and the warrants themselves will not be listed on any stock exchange. 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, primarily focusing on oil production in Southwest Texas. The company operates various projects, including Lavernia, Wooden Horse, and Stockdale Horizon. Additionally, Nexera has acquired full ownership of Production Resources Inc., which operates within the same region.
Forward-Looking Statements
This announcement contains forward-looking statements that reflect management’s expectations regarding future events. While the company believes these expectations are reasonable, there are no guarantees that actual results will align with these projections. Factors such as risks and uncertainties may lead to outcomes that differ significantly from those expressed in the forward-looking statements. The information provided is subject to change, and the company does not commit to updating these statements unless required by applicable securities regulations. Readers are advised to exercise caution and not overly rely on these forward-looking assertions.
Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider assumes responsibility for the accuracy or completeness of this announcement.
