Ubiquitous Energy, Inc. announced that it will issue 126,354,099 series B preferred shares at issue price of $0.64657 per share for the gross proceeds $81,696,769.79043 in funding on March 15, 2021. The shares are convertible, participating, non-redeemable and non-cumulative. The shares carry non-cumulative dividend value of $0.03879 per annum per share.

The shares will be convertible in common shares at a price of $0.64657 per share. The round will be raised at post money valuation of $146,418,398.