Business
ABOUND Announces Closing of First Tranche of its Offering and Warrant Extension
ABOUND Announces Closing of First Tranche of its Offering and Warrant
About this update from Abound Energy Inc
[{"type":"text","content":"\nRichmond - ABOUND Energy Inc. ('ABOUND' or the 'Company') (CSE: ABND) (OTC PINK: ZAIRF) (FSE: 0E9) is pleased to announce the closing of a first tranche of its Offering previously announced in ABOUND's news release dated June 23, 2025.\nIn this first tranche, the Company raised gross proceeds of $410,322 with the sale of 5,470,950 Units. Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for two years into one common share at $0.125 per share during the first twelve months and $0.30 per share thereafter until twenty-four months from issuance. The proceeds will support general working capital needs and provide critical financing to deploy ABOUND's innovative NOVARE resource recovery technology, integrate it with the Zaeras energy storage solutions, and build a scalable platform for future growth. This strategic financing effort is designed to strengthen ABOUND's capital base, enhance operational capacity, and expedite the delivery of sustainable energy solutions to clients worldwide.\nAll securities issued are subject to a four-month-and-one-day hold period until October 31, 2025. ABOUND views this initiative as a pivotal step in reinforcing its leadership in the clean energy and resource recovery sectors while maximizing value for shareholders and partners. No finder's fees and/or commissions were paid in connection with the closing of this first tranche.\nFor additional information with respect to ABOUND's Offering, please refer to ABOUND's news release dated June 23, 2025, available for viewing on ABOUND's profile on SEDAR+ (www.sedarplus.ca).\nWarrant Extension\nThe Company intends to extend the exercise period for 6,353,154 warrants exercisable at $0.20 per common share (the 'Warrants'). The Warrants were issued pursuant to a private placement which was previously announced on July 9, 2024, with the first tranche closing on July 16, 2024, and the second tranche closing on September 16, 2024. The Company proposes to extend the expiry dates of the Warrants by 12 months. As a result, the new expiry dates will be July 16, 2026, for 3,717,830 Warrants, and September 16, 2026, for 2,635,324 Warrants.\nAll other terms and conditions of the Warrants will remain unchanged. The proposed Warrant extension is subject to there being no objections from the Canadian Securities Exchan...