CVW CleanTech Announces Upsize of Private Placement & Grant of Stock Options

Provided By Globe Newswire

Last update: Sep 20, 2022

CALGARY, Alberta, Sept. 20, 2022 (GLOBE NEWSWIRE) -- CVW CleanTech Inc. (the "Company" or "CVW CleanTech") (TSX-V: CVW) CVW CleanTech Inc. (TSX-V:CVW (the “Company” or “CVW CleanTech”) announces that as a result of significant investor interest, the non brokered private placement originally announced September 6, 2022, will be increased to allow for the issuance of up to 1,166,667 Units, with gross proceeds of up to $1.4 million. The Units are priced at $1.20 per Unit, and each Unit will be comprised of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of $1.80 per share for a period of four years from the date of issuance. The common shares and warrants issued pursuant to the offering will be subject to a four month hold period from the closing date. The Offering is subject to the approval of the TSX Venture Exchange and is anticipated to close in early October 2022.