TORONTO, April 09, 2025 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (“Clear Blue” or the “Company”), a leader in Smart Power solutions for the telecom and IoT sectors, is pleased to announce the successful completion of a comprehensive balance sheet restructuring initiative.CAD 250,000 of the Bank of Nova Scotia (BNS) loan facility will be converted into 1,388,889 post-consolidation equity units. Each unit consists of one common share and one common share purchase warrant. Units are priced at CAD 0.18 per share, and each warrant is exercisable at CAD 0.30 for 24 months. The units to be issued pursuant to the Debt Conversion Agreement are subject to the final approval of the TSX-V.CAD 250,000 of the existing facility will be converted into a 15-year royalty of 0.75% on Clear Blue’s gross consolidated revenues, payable quarterly, with total cumulative payments capped at CAD 750,000.The remaining CAD 250,000 of the BNS loan, along with an additional CAD 125,000 from RER, will be combined into a 12-month secured term loan totaling CAD 375,000, with an annual interest rate of 12%, compounded monthly and payable quarterly.
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(GlobeNewsWire)