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Northstar Closes $1,440,000 Non-Brokered Private Placement of Unsecured Convertible Debentures
Northstar Closes $1,440,000 Non-Brokered Private Placement of Unsecured Convertible Debentures ...
About this update from Northstar Clean Technologies, Inc.
[{"type":"text","content":"\n \n \n \n Northstar Closes $1,440,000 Non-Brokered Private Placement of Unsecured Convertible Debentures\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 \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 \n Insiders of the Company invested\n \n $315,000\n \n in the Convertible Debentures\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 15, 2022\n \n \n /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF), (OTCQB: ROOOF) (\"Northstar\" or the \"Company\") is pleased to announce that it has closed a non-brokered private placement (the \"Offering\") of non-transferrable unsecured convertible debentures (collectively, the \"Convertible Debentures\") for an aggregate principal amount of\n \n $1,440,000\n \n (the \"Principal Amount\"). The Convertible Debentures bear an interest of 10% per year (the \"Interest\"), paid semi-annually in arrears, and mature 36 months from the date of issue.\n \n \n \n \n \n \n \n \n \n Closing of the Convertible Debentures is subject to regulatory approval, including that of the TSX Venture Exchange (\"TSXV\"). All securities issued in connection with the Convertible Debentures will be subject to a statutory four-month hold period.\n \n \n The net proceeds received by the Company from the Convertible Debentures will be used to further develop the Empower Pilot Facility testing program to include manufactured fibreglass testing, matching of a potential award from Sustainable Development Technology Canada (\"SDTC\"), and for general corporate purposes.\n \n \n The Principal Amount of the Convertible Debentures may be converted, for no additional consideration, into units of the Company (each, a \"Unit\") at the option of the holder at any time after the date of issue at a conversion price (the \"Conversion Price\") of\n \n $0.25\n \n per Unit. In addition, at the time of any conversion of the Principal Amount, the holder may also elect to convert accrued and outstanding interest int...