Sophic Client Clear Blue Technologies (CBLU-TSXV, CBUTF-OTC, 0YA-FRA) announces closing of initial tranche of unit offering.
The Company closed an initial tranche of a non-brokered unit offering (the “ Offering ”) for gross proceeds of approximately $989,834. The initial closing of the Offering resulted in the issuance of 5,822,554 units of the Company (each, a “ Unit ” and collectively the “ Units ”) at a price of C$0.17 per Unit. Each Unit consists of one common share in the capital of the Company (each, a “ Common Share ” and collectively the “ Common Shares ”) and one common share purchase warrant (each whole warrant, a “ Warrant ” and collectively the “ Warrants ”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.22 per Common Share for a period of 24 months from the grant date. All securities issued under the initial tranche of the Offering are subject to a statutory hold period ending four months and one day from the closing date of the initial tranche of the Offering. The Company expects to complete one or more additional tranches of the Offering in the coming days. The Offering remains subject to the final approval of the TSX Venture Exchange. https://bit.ly/3s2JseG