THIS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia, Jan. 31, 2022 (GLOBE NEWSWIRE) — Berkley Renewables Inc. (CSE:BKS) (the “Company”), announces that it has closed its previously announced non-brokered private placement of 5,400,000 (the “Units”) at a purchase price of $0.05 per Unit for gross proceeds of $270,000. Each Unit was comprised of one common share and one common share purchase warrant, and each warrant is exercisable for one common share for a period of five years at an exercise price of $0.05/share in years 1 – 3 and $0.10/share in years 4 – 5. The proceeds of this offering will be applied towards, among other things, the following: (i) audit and legal fees; (ii) regulatory filing fees; (iii) CSE fees; and (iv) general working capital.
All securities issued in the offering and any shares issued upon exercise of warrants are subject to a four month statutory hold period from the date of issuance. In addition, the Company’s securities, including securities issued in the offering and any shares issued upon exercise of warrants, remain subject to a failure-to-file cease trade order issued by the British Columbia Securities Commission (as Principal Regulator) on May 6, 2019.
About Berkley Renewables
Berkley Renewables Inc. is a growth-oriented diversified issuer also pursuing renewable energy opportunities, primarily in the solar energy sector. For more information, please contact Matt Wayrynen: 604.682.3701 or [email protected] Other information available at www.berkleyrenewables.com.
ON BEHALF OF THE BOARD
President and Chief Executive
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. This release may contain statements that are considered as forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.