Clean Vision Corporation announced that it has entered into a securities purchase agreement with the investors for a private placement of a senior convertible promissory note for aggregate original principal amount of $1,714,285.71 on May 26, 2023. The promissory note bears interest at a rate of 5% per annum. The company will issue warrants to purchase 44,069,041 common shares.

The transaction is expected to close on or about May 30, 2023 which is subject to customary closing conditions. The company estimates that the net cash proceeds will be approximately $1,000,000 from the closing of the offering after deducting the estimated expenses of the offering. The issuance expenses paid by the company is $714,285.71.