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Northstar Announces Private Placement of Convertible Debenture Units for up to $3.5 Million
Northstar Announces Private Placement of Convertible Debenture Units for up to $3.5 Million ...
About this update from Northstar Clean Technologies, Inc.
[{"type":"text","content":"\n \n \n \n Northstar Announces Private Placement of Convertible Debenture Units for up to $3.5 Million\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 \n ,\n \n \n Nov. 21, 2023\n \n \n /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) (\"Northstar\" or the \"Company\") is pleased to announce a private placement offering 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 aggregate gross proceeds of up to\n \n $3,500,000\n \n (the \"Private Placement\"). The Private Placement will be conducted on both a brokered (the \"Brokered Offering\") and non-brokered basis (the \"Non-Brokered Offering\").\n \n \n \n \n \n \n \n \n \n In connection with the Brokered Offering, the Company has entered into an engagement agreement with Independent Trading Group Inc. (the \"Agent\" or \"ITG\") dated\n \n November 17, 2023\n \n to act as lead agent and sole bookrunner to sell, on a best-efforts basis, the Convertible Debenture Units.\n \n \n Each Convertible Debenture Unit in the Private Placement will be comprised of: (i) one 12.5% unsecured convertible debenture (each, a \"Convertible Debenture\") in the principal amount of\n \n $5,000.00\n \n (the \"Principal Amount\") convertible into common shares of the Company (the \"Common Shares\" and each such Common Share, a \"Conversion Share\"); and (ii) 25,000 Common Share purchase warrants (each, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one additional Common Share (each, a \"Warrant Share\") at a price of\n \n $0.30\n \n per Warrant Share until the Maturity Date. The Principal Amount may be converted, for no additional consideration, into Conversion Shares at the option of the holder of Convertible Debenture (each, a \"Holder\") at any time after the clo...