January 7, 2022 TORONTO, ON -- Clear
Blue Technologies International Inc. (“Clear Blue”) (TSXV: CBLU), the Smart
Off-Grid™ Company, today announces an adjustment to the previously announced
issuance of convertible unsecured subordinated debentures in 2021. The
Company completed a private placement offering of convertible unsecured
subordinated debentures (the “Debentures”)
for gross proceeds of C$2,799,000.
With the second tranche completed, and cumulative gross proceeds of C$4,334,000
(the “Offering”), the Company still exceeded the cumulative funding target
of C$4 million, previously announced on October 29, 2021.
result of this change, corrections in the previously announced finders’ fees
and broker warrants, for introducing certain subscribers to the
Offering, are as follows. The Company
paid finders’ fees in cash, totaling $131,180, and
in broker warrants, totaling 319,200 warrants,
with each broker warrant entitling the holder to acquire one Common Share for a
period of 48 months at a price per share of $0.40.
The Company also wishes to announce that it has signed a contract with Triomphe Holdings Ltd., the parent company
of Capital Analytica, for ongoing social media consultation. The services
provided by Capital Analytica will include press initiatives and social media
consulting, as well as engagements with arm's length parties for an aggregate
gross expenditure of CDN $120,000 over a 6-month period, with the potential for
a follow-on service contract. No stock-based compensation has been provided.
Clear Blue Technologies International
Blue Technologies International, the Smart Off-Grid™ company, was founded on a
vision of delivering clean, managed, “wireless power” to meet the global need
for reliable, low-cost, solar and hybrid power for lighting, telecom, security,
Internet of Things devices, and other mission-critical systems. Today, Clear
Blue has thousands of systems under management across 37 countries, including
the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)
Miriam Tuerk, Co-Founder and CEO
+1 416 433 3952
Nikhil Thadani, Sophic Capital
+1 437 836 9669
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
The participation in the Offering of Paul Desjardins, Jason
Woerner, Steven Parry, Jane Kearns, and Mark Windrim, each of whom is an
officer and/or director of Clear Blue (the “Related Parties”), constituted a
related party transaction as defined under Multilateral Instrument 61-101
- Protection of Minority Security Holders in Special Transactions ("MI
61-101"). Notwithstanding the foregoing, the issuance of securities to the
Related Parties was exempt from the formal valuation requirements of Section
5.4 of MI 61-101 pursuant to Subsection 5.5(a) of MI 61-101 and the minority
shareholder approval requirements of Section 5.6 of MI 61-101 pursuant to
Subsection 5.7(1)(a) of MI 61-101.