Northstar Announces USD$10.0 Million Strategic Investment from Tamko Subsidiary

About this update from Northstar Clean Technologies, Inc.

[{"type":"text","content":"\n \n \n \n Northstar Announces USD$10.0 Million Strategic Investment from Tamko Subsidiary\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 July 31, 2023\n \n \n /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) (\"Northstar\" or the \"Company\") is pleased to announce that the Company has completed an arm's length significant strategic investment with Allmine Paving LLC (\"Allmine\"), a party and subsidiary of TAMKO Building Products LLC (\"TAMKO\"), one of America's largest independent manufacturers of residential roofing shingles, commercial roofing products and waterproofing solutions. On\n \n July 31, 2023\n \n , the Company closed a\n \n C$8,480,979.24\n \n \n (US$6,424,984.27)\n \n non-brokered private placement (the \"Private Placement\") of preferred shares (each, a \"Preferred Share\") in the capital of the Company, as Phase 1 of TAMKO's strategic investment (the \"Strategic Investment\").\n \n \n \n \n \n \n \n \n \n The Strategic Investment is intended to include two phases:\n \n \n \n Phase 1:\n \n C$8,480,979.24\n \n \n (US$6,424,984.27)\n \n of Preferred Shares; and\n \n \n Phase 2: Approximately\n \n C$4,720,000\n \n \n (US$3,580,000)\n \n of unsecured three-year convertible debentures to be purchased in two tranches and conditional on the attainment of certain milestones as agreed upon by the parties:\n \n \n \n Tranche 1: Approximately\n \n C$2,360,000\n \n \n (US$1,790,000)\n \n \n \n Tranche 2: Approximately\n \n C$2,360,000\n \n \n (US$1,790,000)\n \n \n \n \n \n Mr.\n \n Aidan Mills\n \n , President & CEO and Director of Northstar, stated, \"We are thrilled to welcome TAMKO as a strategic investor in Northstar. TAMKO is a leader in the shingle manufacturing industry and brings nearly 80 years and three generations of manufacturing experience. This is the beginning of a new chapter in Northstar's history....

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