- CarbonTech Capital Corp. (CT.P) has signed a $1.9 million definitive agreement of purchase and sale
- CarbonTech agreed to acquire a property located at 33 Waverly Road, Toronto
- The purchase price is subject to a $15,000 adjustment, and the company has put down a $25,000 refundable deposit
- The company intends to finalize a $3 million private placement before closing the transaction
- After closing, CarbonTech will assemble a prefabricated net zero climate-friendly house and garden suite on the property
- CarbonTech Capital Corp. (CT.P) last traded at $0.15 per share as of 2:40 p.m. EST
CarbonTech Capital Corp. (CT.P) has signed a $1.9 million definitive agreement of purchase and sale related to its previously announced qualifying transaction.
As a part of the agreement, CarbonTech decided to acquire an Ontario-based property located at 33 Waverly Road, Toronto.
The purchase price for the property may be adjusted by up to $15,000 if specified dates do not complete the transaction. Additionally, the agreements require certain cooperation in zoning, a building permit, and a survey.
CarbonTech will pay a refundable deposit of $25,000 which will be credited towards the purchase price, and intends to finalize a $3 million private placement for subscription receipts before closing the transaction.
After the transaction has closed, CarbonTech will resume trading its common shares on the TSX Venture Exchange.
The company will then assemble a prefabricated net zero climate-friendly house and garden suite on the property. It will develop, brand, and market its housing for being built quickly, sustainably, and affordably.
The sustainable housing will feature cutting-edge climate technologies, including electronic devices and software that optimize performance and efficiency, smart home battery storage solutions, and a complete suite of monitoring and control solutions for boilers and electrically heated housing.
CarbonTech Capital Corp. (CT.P) last traded at $0.15 per share as of 2:40 p.m. EST.