(via TheNewswire)
Subject to regulatory requirements, a portion of the Private Placement may be made in accordance with the provisions of the existing shareholder exemption (the “Existing Shareholder Exemption”) contained in Multilateral CSA Notice 45-313 and the various corresponding blanket orders and rules of participating jurisdictions.
The Company has set
Should the aggregate subscriptions received exceed the maximum 6,500,000 Units for the Private Placement, Units shall be allocated to the qualifying subscribers pro rata based on their offered subscription amounts.
Proceeds from this financing will be used primarily for the production of inventory, sales and marketing, equipment purchases, patenting costs and general working capital, including further development of the Company’s technologies. A portion of the proceeds will also be used towards a prospective restructuring of certain long term indebtedness of the Company.
All securities issued pursuant to this financing are subject to a four-month-and-one-day hold period under applicable Canadian securities legislation. The Company may pay finders' fees to qualified finders in connection with this financing. Closing is subject to
About Solarvest
For further information contact:
Phone: 1.514.898.3488
Email:invest@solarvest.ca
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the terms of the Offering, the completion of the Offering and the expected use of the net proceeds received by the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.
Neither the
None of the securities of Solarvest have been registered under the
Copyright (c) 2022 TheNewswire - All rights reserved.
Copyright (c) 2022 TheNewswire - All rights reserved., source