Mr. William Hessert reports
BLUSKY CARBON ANNOUNCES $1 MILLION CONVERTIBLE DEBENTURE FINANCING
Blusky Carbon Inc. intends to complete a non-brokered private placement of convertible debentures of the company at a price of 30 cents per convertible debenture unit for gross proceeds to the company of up to $1-million.
Each convertible debenture unit will comprise $1,000 in principal amount of unsecured convertible debenture. The convertible debentures will bear interest at a rate of 12 per cent per annum, calculated and payable quarterly in arrears, commencing three months from closing, and mature 24 months following the date of issuance. The principal amount of each convertible debenture and any interest accrued thereon will be convertible into common shares at a conversion price of 30 cents per common share (the conversion price) at the option of the holder of a convertible debenture at any time prior to the close of business on the maturity date.
The convertible debentures will be unsecured obligations of the company.
The net proceeds received by the company from the offering are intended to be used for general corporate and working capital purposes.
Finders' fees may be paid to eligible arm's-length persons with respect to certain subscriptions accepted by the company, in accordance with the policies of the Canadian Securities Exchange (the CSE).
The company also announces that it no longer intends to complete its previously announced best-efforts public offering of up to six million units of the company for gross proceeds of up to $3-million.
© 2025 Canjex Publishing Ltd. All rights reserved.