Vancouver, B.C.: Brasnova Energy Materials Inc. (“BEM” or the “Company”) (TSXV: BEM) is pleased to announce a non-brokered private placement financing for aggregate gross proceeds of up to $1,000,000. The financing will consist of up to five million units at 20 cents, each unit consisting of one common share of the company and one common share purchase warrant with each warrant being exercisable for an additional common share at an exercise price of 30 cents for 36 months. The warrants will be subject to the right of the company to accelerate the exercise of the warrants if the shares of the company trade at or above $1.00 for a period of 10 consecutive trading days.
All securities issued pursuant to the financing will be subject to a four-month hold. Proceeds from the financing will be used for project payments, continuing development of the company’s projects and general working capital. Finders fees in cash and non-transferable broker warrants, and in accordance with Exchange policies may be paid in relation to the Financing.
ABOUT BRASNOVA ENERGY MATERIALS INC.
Brasnova Energy Materials is focused on securing, developing and monetizing energy materials assets and technologies to build shareholder value.
On behalf of the Board of Directors of
BRASNOVA ENERGY MATERIALS INC.
“Brian Leeners”
Brian Leeners, CEO & Director
[email protected] / +1 604-862-4184 (WhatsApp)
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.
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