Tickers: PINX:GTGEF, XCNQ:GTBE
Tags: Oil & Gas
Vancouver, British Columbia / TheNewswire / February 23, 2018 - Green 2 Blue Energy Corp. (CSE:GTBE, FWB:1NZ.F) ("G2BE" or the "Company") is pleased to announce a best-efforts non-brokered private placement of up to 6,000,000 units of the Company (the "Units") at a price of $0.25 per Unit for aggregate gross proceeds of up to $1.5 million (the "Offering"). The net proceeds received from the Offering will be used for general working capital of the Company.
Each Unit will consist of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a "Warrant Share") at a price of $0.35 per Warrant Share for a period of 24 months from closing of the Offering.
All of the securities issuable in connection with the Offering will be subject to a hold period expiring four months and one day after the date of issuance. The Company may pay finder's fees in connection with the Offering. Closing of the Offering is subject to receipt of all necessary regulatory approvals.
G2BE is a renewable energy company focused on residential and commercial wood pellet production and the implementation of biomass gasification technology to generate combined heat and power. G2BE's wood pellets are sold to retail outlets and power producers throughout Europe, including the United Kingdom, Germany, Poland, Italy and Denmark.
On Behalf of the Board of Directors
"Slawek Smulewicz"
Slawek Smulewicz
Chief Executive Officer and Director
For more information, please contact:
Glenn Little
Director, Corporate Communications
Telephone: (604) 539-5023
The CSE has neither approved nor disapproved the information contained herein.
This news release contains "forward-looking information" within the meaning of applicable securities laws. The Company has provided the forward-looking information, including statements relating to the Company's intention to complete the Offering, in reliance on assumptions that it believes are reasonable at this time. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the Offering may not close for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities) or that the terms of the Offering may differ from those that currently are contemplated. The Company does not undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
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