- EarthRenew (ERTH) has upsized its offering of units for aggregate gross proceeds of $9.5 million
- The company will offer up to 38,000,000 units at a price of $0.25 per unit
- If the agent’s over-allotment option is fully exercised, the company will receive an additional $1.425 million for total gross proceeds of $10.925 million
- Net proceeds of the offering for the acquisition of equipment for expansion of production facilities in Alberta
- Replenish Nutrients delivers leading regenerative fertilizer solutions to support healthy crops
- EarthRenew Inc. (ERTH) is down 18.64 per cent on the day, trading at C$0.24 per share at 1:15 pm ET
EarthRenew (ERTH) has upsized its offering of units for aggregate gross proceeds of $9.5 million.
The company will offer up to 38,000,000 units at a price of $0.25 per unit. Each unit will be comprised of one common share and one share purchase warrant. Each warrant will be exercisable to acquire one additional common share at a price of $0.32 per share for a period of 48 months.
The agents have been given an over-allotment option. If this option is exercised in full, the company will receive an additional $1.425 million in gross proceeds for total gross proceeds of $10.925 million.
Net proceeds of the offering for the acquisition of equipment for expansion of production facilities in Alberta and for working capital and general corporate purposes.
The offering is expected to close on or about June 21, 2022.
Closing of the offering is subject to the receipt of all necessary regulatory approvals.
Replenish Nutrients delivers leading regenerative fertilizer solutions to support a farm system that puts healthy soils and grower profitability back on the table. By combining Canadian-sourced nutrients with its proprietary delivery system, Replenish has developed a sustainable alternative to synthetic fertilizers that enhances overall soil function while providing plant-available nutrients farmers rely upon for healthy crops.
EarthRenew Inc. (ERTH) is down 18.64 per cent on the day, trading at C$0.24 per share at 1:15 pm ET.
