Business
Northstar Announces Closing of Final Tranche of Over-Subscribed Private Placement
Northstar Announces Closing of Final Tranche of Over-Subscribed Private Placement Canad...
About this update from Northstar Clean Technologies, Inc.
[{"type":"text","content":"\n \n \n \n Northstar Announces Closing of Final Tranche of Over-Subscribed Private Placement\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n and\n \n CALGARY, AB\n \n \n ,\n \n \n Feb. 16, 2024\n \n \n /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF), (OTCQB: ROOOF) (\"Northstar\" or the \"Company\") is pleased to announce that it has closed the second and final tranche (the \"Second Tranche\") of its previously announced private placement offering (the \"Private Placement\") of unsecured convertible debenture units of the Company (collectively, the \"Convertible Debenture Units\") at a price of\n \n $5,000\n \n per Convertible Debenture Unit for gross proceeds of\n \n $1,375,000\n \n . In addition to the first tranche closed in\n \n December 2023\n \n , the Private Placement was oversubscribed with total proceeds of\n \n $3,635,000\n \n (the \"Private Placement\"), compared to the Company's targeted amount of\n \n $3,500,000\n \n .\n \n \n \n \n \n \n \n \n \n Mr.\n \n Aidan Mills\n \n , President & CEO and Director of Northstar, stated, \"In spite of the challenging financial landscape, we are very pleased to close our over-subscribed private placement and to have the continued support of our strategic investor TAMKO in the Private Placement. With total proceeds of over\n \n $3.6 million\n \n , Northstar is well positioned to continue its next steps in the development of its Empower Calgary Facility. We look forward to a strong and successful 2024.\"\n \n \n The Private Placement was conducted on both a brokered (the \"Brokered Offering\") and non-brokered basis (the \"Non-Brokered Offering\"). The Brokered Offering was led by Independent Trading Group Inc. (the \"Agent\" or \"ITG\"), as lead agent and sole bookrunner, pursuant to an agency agreement dated\n \n December 21, 2023\n \n between the Company and the Agent.\n \n \n TAMKO Buildin...