EnerPure Inc. (“EnerPure” or the “Company”), a Manitoba cleantech company, announces that it has amended the terms of its October 3, 2022, announced private placement where it engaged Ascenta Finance Corp. (AscentaFinance.com), in cooperation with Moneta Advisory Partners (MonetaPartners.ca), to lead a private placement on its behalf pursuant to which EnerPure will issue up to 14,285,714 units of the Company priced at $0.70 per Unit to raise aggregate gross proceeds of up to $10,000,000.
Under the amended terms the Company will issue up to 9,09,909 units of the Company (the “Amended Units”) priced at $0.55 per unit to raise aggregate gross proceeds of up to $5,000,000. The private placement may be increased at EnerPure’s discretion. Each Amended Unit will be comprised of one common share and one half of one non-transferable share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable at $0.85 for a period expiring the earlier of: (i) 12 months from a public listing liquidity event or, (ii) 10 business days from the date that the Company provides written notice of a sale liquidity event. In the event that EnerPure has not completed a public listing liquidity event or a sales liquidity event on or before the date that is 12 months after the final closing date of the Offering, each Liquidity Warrant will entitle the holder to an additional 0.1 Shares.
