Nexera Energy Inc. Announces Private Placement Offering
Nexera Energy Inc. (OTC Pink: EMBYF), based in Calgary, Alberta and San Antonio, Texas, has announced its intention to conduct a non-brokered private placement with the goal of raising up to $600,000. This offering will consist of a maximum of 24 million common shares, which will be made available through a unit offering priced at $0.025 per unit. Each unit will comprise one common share and one share purchase warrant. The warrants will allow the holder to buy an additional common share for $0.10 within a two-year period following their issuance.
Warrant Acceleration Clause Explained
The warrants will feature an acceleration provision. If, after a waiting period of four months and one day from the issuance of the warrants, the common shares’ closing price reaches or exceeds $0.15 for 30 consecutive trading days, the expiration date of the warrants will be shortened. This new expiration will be set for 30 calendar days after a press release is issued to inform warrant holders about the shortened term, provided that this communication occurs within five business days after the eligible acceleration date.
Utilization of Proceeds from the Offering
The proceeds from this offering are earmarked for use within Nexera’s wholly-owned subsidiary, Production Resources Inc. (PRI), to enhance its oil and gas service capabilities. The funds are intended for the acquisition of new equipment to broaden the cement services division, which will also enhance well servicing operations. The additional equipment will not only support Nexera’s own wells but is expected to generate extra revenue by providing services to other operators in the region, where demand for such services is believed to be high.
Allocation of Funds
Nexera plans to allocate the net proceeds from the offering as follows: $390,000 for purchasing equipment, $60,000 for refurbishing existing equipment, and $100,000 for labor costs. Any remaining funds will be directed towards working capital needs.
Hold Period and Stock Exchange Approval
All common shares and warrants issued as part of this private placement will be subject to a four-month hold period. Additionally, these warrants will not be listed on any stock exchange. The completion of this offering is contingent upon receiving final approval from the TSX Venture Exchange.
About Nexera Energy Inc.
Nexera Energy Inc. is an energy firm that operates oil-producing properties in Southwest Texas. The company is the owner and operator of several projects, including Lavernia, Wooden Horse, and Stockdale Horizon. Furthermore, Nexera has acquired full ownership of Production Resources Inc., a company based in South Texas that focuses on oil production.
Forward-Looking Statements
This announcement contains forward-looking statements that reflect management’s expectations regarding the timing of financial filings and other projections. While these expectations are considered reasonable, there are no guarantees that they will materialize as anticipated. Actual results may differ significantly from those predicted due to various risks and uncertainties. The forward-looking information in this release is qualified by this cautionary note, and the company does not commit to updating these statements unless required by applicable securities laws. Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.
Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider takes responsibility for the accuracy or completeness of this news release.
