By Devika Patel
Knoxville, Tenn., Sept. 12 – Earth Alive Clean Technologies Inc. said it raised C$667,000 in the final tranche of a C$1.5 million private placement of 15% unsecured convertible debentures with Groupe Lune Rouge Inc.
The debentures, due Oct. 11, 2019, convert to common stock at C$0.35 per share.
Groupe Lune also received warrants for 2,240,246 common shares, each exercisable at C$0.25 for five years.
The Montreal company uses environmentally sustainable technologies to develop dust control products for the mining industry.
| Issuer: | Earth Alive Clean Technologies Inc.
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| Issue: | Unsecured convertible debenture
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| Amount: | C$1.5 million
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| Maturity: | Oct. 11, 2019
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| Coupon: | 15%
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| Conversion prices: | C$0.35
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| Warrants: | For 2,240,246 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | C$0.25
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| Investor: | Groupe Lune Rouge Inc.
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| Settlement date: | Sept. 12 (for C$667,000)
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| Distribution: | Private placement
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