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Blusky Carbon Inc
Symbol BSKY
Shares Issued 67,215,206
Close 2024-11-29 C$ 0.48
Market Cap C$ 32,263,299
Recent Sedar Documents

Blusky Carbon arranges $3-million financing

2024-12-02 09:22 ET - News Release

Mr. William Hessert reports

BLUSKY CARBON ANNOUNCES $3 MILLION MARKETED PUBLIC OFFERING OF UNITS

Blusky Carbon Inc. has entered into an engagement letter with Canaccord Genuity Corp., pursuant to which Canaccord Genuity has agreed to lead, on a best-efforts marketed basis, a public offering of up to six million units of the company at a price of 50 cents per unit or gross proceeds of up to $3-million. The closing of the offering is expected to take place on or about Dec. 19, 2024, or on such other date as may be mutually agreed upon by the company and the agent.

The offering

Each unit will comprise one common share of the company and one-half common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of 65 cents per warrant share for a period of 24 months.

The company has also granted the agent an option, exercisable in whole or in part, to purchase up to an additional 900,000 units for a period of 30 days from and including the closing date to cover overallotment, if any, and for market stabilization purposes. If the overallotment option is exercised in full, the gross proceeds of the offering will be approximately $3.45-million.

The units sold under the offering will be offered by way of a prospectus supplement to the company's short form base shelf prospectus dated Nov. 20, 2024, which prospectus supplement will be filed with the securities commissions in each of the provinces of British Columbia, Alberta and Ontario (and in such other provinces, other than Quebec, as agreed to by the company and agent), and in the United States or to or for the account or benefit of U.S. persons, as defined by Regulation S under the United States Securities Act of 1933, as amended, by way of private placement pursuant to exemptions from registration provided for under the U.S. Securities Act of 1933 and the applicable securities laws of any state of the United States, and in jurisdictions outside of Canada and the United States as agreed to by the company and Canaccord Genuity.

The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange, and the entering into of an agency agreement between the company and the agent.

The net proceeds raised under the offering will be used for working capital and other general corporate purposes.

Prospective investors under the offering should read the shelf, the prospectus supplement, once filed, and the documents incorporated by reference therein before making an investment decision. Copies of the shelf and the prospectus supplement, following the filing thereof, are, or will be, as applicable, available on the company's SEDAR+ profile.

We seek Safe Harbor.

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