Nexera Energy Inc. announced non-brokered private placement and issue convertible unsecured debentures for gross proceeds of CAD 1,000,000 on March 6, 2023. Each 10% unsecured convertible debenture may be converted into units, comprising one common share and one-half share purchase warrant. The debenture will have a three-year term.

The debentures will mature on the date that is three years from the date of issuance. The debentures will bear interest at a rate of 10% per annum, accrued quarterly and paid annually in arrears. Upon maturity or redemption of each debenture, the company will pay any outstanding principal and any accrued and unpaid interest in cash.

The debentures shall be convertible at the option of the subscriber into units at a conversion rate of CAD 0.05 per unit in the first year and CAD 0.10 per unit thereafter and prior to the maturity date or redemption. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant shall entitle the holder thereof to acquire one additional common share at a price of CAD 0.10 per common share on or prior to the maturity date.

All of the securities issued pursuant to the private placement are subject to a four-month hold period. Completion of this offering remains subject to the final approval of the TSX Venture Exchange.