Renovare Environmental, Inc. entered into a securities purchase agreement with certain institutional investors for a private placement of 2,141,667 common shares at a price of $0.60 per share for gross proceeds of $1,285,000.2 on January 21, 2022. The company will also issue warrants to purchase 2,141,667 common stock at an exercise price of $0.60. The warrants will expire five years from the date of issuance.

The transaction is expected to close on or about January 25, 2022, subject to the satisfaction of customary closing conditions.