BluEnergies closes C$20.7M private placement at C$2.25 per unit

BluEnergies Ltd. (TSXV: BLU) (OTCQX: BLUGF) has closed a non-brokered private placement, issuing 9,202,027 units at C$2.25 each for gross proceeds of C$20,704,560.75, according to a company statement.

Each unit consists of one common share and one warrant exercisable at C$3.00 per share for three years, expiring July 23, 2029. The company plans to use net proceeds for exploration and advancement of its assets, as well as working capital and general corporate purposes.

BluEnergies paid finder's fees totaling C$1,005,683.85, equal to 6% of gross proceeds raised through introduced subscribers, along with 446,970 finder's warrants also exercisable at C$3.00 until July 23, 2029. All issued securities are subject to a statutory hold period expiring November 24, 2026. The offering remains subject to final acceptance by the TSX Venture Exchange.

Following the placement, the company has 82,154,849 common shares issued and outstanding. Company insiders subscribed for 192,000 units totaling C$432,000, representing approximately 2.1% of the offering, constituting a related party transaction under applicable Canadian securities regulations.

Separately, BluEnergies announced a three-month extension of its strategic advisory agreement with Haywood Securities Inc. through October 15, 2026. Under the extension, the company will issue Haywood 125,000 common shares and 125,000 warrants at a deemed price of C$2.15 per share, with warrants expiring April 15, 2028. BluEnergies will also settle a C$60,000 consulting fee from the initial term through the issuance of 27,907 common shares and will continue paying a monthly fee of C$20,000, settled in common shares.

You May Also Be Interested In

• Apnimed prices IPO at $16 per share, raising $192 million
• SRX Global acquires shares in Jersey Mike's $1B IPO
• Viking Therapeutics (VKTX) files mixed shelf