Stockwatch

Tevano Systems Holdings Inc (2)
Symbol	TEVO
Shares Issued	53,836,580
Close 2023-09-28	C$ 0.035
Market Cap	C$ 1,884,280
Recent Sedar+ Documents

Tevano Systems closes $50,000 private placement

2023-09-28 20:18 ET - News Release

Subject: Tevano Systems Holdings Inc. - news release dated September 28, 2023 Word Document File: '\\swfile\EmailIn\20230928 170755 Attachment Tevano - News Release announcing closing of Private Placement of units - warrants with accelerated expiry term - September 28, 2023.docx' 2 | Page LEGAL_42346533.1 LEGAL_42346533.1 Tevano Announces Closing of Private Placement of Units - NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES - Vancouver, BC, September 28, 2023 - Tevano Systems Holdings Inc. (CSE: TEVO, FRA: 7RB) ("Tevano", or the "Company"), is pleased to announce, further to its news release of September 21, 2023, that the Company has closed the previously announced non-brokered private placement of units of the Company (the "Units") by the issuance of 500,000 Units at $0.10 per Unit for gross proceed of $50,000 (the "Offering"). Each Unit consists of one common share in the capital of the Company (a "Share") and one transferrable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.20 on or before September 28, 2025. The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date of a news release is issued by the Company announcing that the trading of the Shares on the Canadian Securities Exchange ("CSE") is at a price greater than $0.40 for a period of ten consecutive trading days. All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation ending on January 29, 2024. The Company will use the net proceeds from the Offering for debt repayment, working capital and general corporate purposes. About Tevano Tevano Systems Holdings Inc. is a provider of innovative solutions for the oil & gas exploration, production, and industrial effluent treatment and recycling industries. The Company is focused on developing cutting-edge technologies that address environmental challenges and promote sustainability. Tevano is committed to delivering high-quality, reliable solutions that meet the evolving needs of its clients worldwide. For more information, please visit www.tevano.com On behalf of the Board of: TEVANO SYSTEMS HOLDINGS INC Eugene Hodgson, Chief Financial Officer eugeneh@tevanosystems.com 604-805-6600 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this news release contains forward-looking statements and matters. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, completion of the Offering, the Company's ability to raise further capital, and successfully advancing its business. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement. Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.