CVW CleanTech Inc. announced a non-brokered private placement of 833,334 units at a price of CAD 1.199999 for gross proceeds of CAD 1,000,000 on September 6, 2022. The transaction will include participation from Chief Executive Officer, Akshay Dubey to invest a minimum of CAD 250,000 as part of this placement. Each unit will consist of one common share and one common share purchase warrant.

Each warrant entitles the holder to acquire one common share at a price of CAD 1.80 per share for a period of four years from the date of issuance. The common shares and warrants issued pursuant to the transaction will be subject to a four month hold period from the closing date. The transaction is subject to the approval of the TSX Venture Exchange and is anticipated to close by mid October, 2022.