BluSky Carbon Inc. (CSE: BSKY), a company in the carbon removal and clean technology sector, has successfully closed a private placement of secured debentures, raising $500,000. These debentures carry a 7% annual interest rate, payable monthly in cash or “in kind,” and will mature in four months. The funds will be used for business development and general working capital.
In addition to this financing, BluSky plans to raise up to $300,000 through a private placement of units at $0.20 per unit. Each unit includes one common share and a warrant to purchase an additional share at $0.30, valid for 24 months. The offering is expected to close by February 18, 2025, with proceeds earmarked for corporate and working capital needs.
The company also announced a planned offering of unsecured convertible debentures, aiming to raise up to $750,000. These debentures will carry a 12% annual interest rate, payable quarterly, and mature in 24 months. Investors will have the option to convert their investment into common shares at $0.24 per share.
BluSky’s financings reflect its continued efforts to secure capital for growth and innovation in the clean technology space. The offerings are subject to securities regulations and restrictions, particularly regarding U.S. investors.
This funding will help BluSky advance its mission in carbon removal and clean technology while strengthening its financial position.
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