Star Metro - BluSky Carbon Announces Closing of Convertible Debenture Financing and Unit Offering

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BluSky Carbon Announces Closing of Convertible Debenture Financing and Unit Offering

THINGS TO KNOW 24.02.2025

BluSky Carbon Announces Closing of Convertible Debenture Financing and Unit Offering

OLD SAYBROOK, CT AND VANCOUVER, BC / ACCESS Newswire / February 24, 2025 / BluSky Carbon Inc. (CSE:BSKY) ("BluSky" or the "Company"), an innovative entry into the carbon removal clean technology sector, is pleased to announce that it has closed the previously-announced (see news releases dated February 11, 2025 and February 14, 2025) non-brokered private placement of convertible debentures of the Company (the "ConvertibleDebentures", and each a "ConvertibleDebenture Unit"), at a price of $1,000 per Convertible Debenture Unit, for gross proceeds of $750,000 (the "Offering"). Each Convertible Debenture Unit consists of (i) a $1,000 principal amount Convertible Debenture and (ii) 4,761.9 common share purchase warrants of the Company (the "Warrants"), with each whole Warrant entitling the holder to acquire one common share of the Company (a "Common Share") at a price of $0.30 for a period of 2 years following the closing of the Offering (the "Closing Date"). The Convertible Debentures will mature 18 months from the Closing Date and will bear interest at a rate of 12.0% per annum. Each Convertible Debenture will be convertible, in whole or in part, at any time while any principal or interest remains outstanding, into Common Shares, at the option of the holder, at a price of $0.21 per Common Share. The Convertible Debenture Units and underlying securities are subject to a hold period of four months and one day pursuant to applicable securities laws.

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The Company also announces that it has completed its previously-announced (see news release dated February 11, 2025) non-brokered private placement offering (the "Unit Offering" together with the Offering, the "Offerings") units (the "Units"), issuing 1,110,000 Units, at a price of $0.20 per Unit, for gross proceeds of $222,000. Each Unit is comprised of one Common Share and one Common Share purchase warrant (the "Unit Offering Warrants"), with each Unit Offering Warrant exercisable for one Common Share at a price of $0.30 for a period of 24 months. The Units and underlying securities are subject to a hold period of four months and one day pursuant to applicable securities laws.

The net proceeds received by the Company from the Offerings are intended to be used for the ongoing development of the Company's business model and for general working capital purposes.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

ON BEHALF OF THE COMPANY

William ("Will") Hessert
Chief Executive Officer

BluSky Carbon Inc.
35 Research Parkway,
Old Saybrook, CT, 06475
Tel. (860) 577-2080
Web, https://bluskycarbon.com/
Email. [email protected]

The CSE and Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.

Forward-Looking Statements Caution. This news release contains forward-looking statements relating to the intended use of proceeds from the Offerings, the conversion of the Convertible Debentures, the intended use of proceeds from the Offerings, and the Company's business and plans generally, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of relevant securities regulatory authorities and exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

SOURCE: BluSky Carbon Inc.

View the original press release on ACCESS Newswire

O.Gauthier--SMC

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