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Northstar Announces Closing of $3.6 Million in Funding for Transition to Commercial Operations and Future Facility Business Development
Northstar Announces Closing of $3.6 Million in Funding for Transition to Commercial Operations an...
About this update from Northstar Clean Technologies, Inc.
[{"type":"text","content":"\n\n\n\n Northstar Announces Closing of $3.6 Million in Funding for Transition to Commercial Operations and Future Facility Business Development\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n . FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF\n \n UNITED STATES\n \n SECURITIES LAW\n \n\n\n\n CALGARY, AB\n \n\n ,\n \n\n July 28, 2025\n \n\n /CNW/ - Northstar Clean Technologies Inc. (\n \n TSXV: ROOF, OTCQB: ROOOF\n \n ) (\"\n \n Northstar\n \n \" or the \"\n \n Company\n \n \") is pleased to announce the closing of a non-brokered private placement of 11,926,664 units of the Company (each, a \"\n \n Unit\n \n \") at a purchase price of\n \n $0.30\n \n per Unit for aggregate gross proceeds of approximately\n \n $3.6 million\n \n (the \"\n \n Financing\n \n \") to transition the Company to commercial operations and fund ongoing business development efforts for\n \n Hamilton\n \n and the first US site. The Financing's key terms include:\n \n\n\n\n\n\n\n\n\n\n Each Unit consists of one common share of the Company (each, a \"\n \n Common Share\n \n \") and one Common Share purchase warrant (each, a \"\n \n Warrant\n \n \") with each such Warrant entitling the holder thereof to acquire one additional Common Share (each, a \"\n \n Warrant Share\n \n \") at an exercise price of\n \n $0.45\n \n per Warrant Share for a period of 36 months following closing of the Financing;\n \n\n Use of proceeds: Support the forecasted production ramp of the\n \n Calgary\n \n facility to achieve the near-term objective of Emission Reduction Alberta's Milestone 3 production threshold of greater than 80 tonnes per day, business development costs for\n \n Hamilton\n \n and the first US site, and general corporate purposes;\n \n\n Insider and other key management represented approximately 10% of the Financing, evidencing financial support by leadership personnel. In addition, nearly 50% of the Financing was subscribed by existing share...