Aether Subsidiary Cap Clean Energy Corp. Announces $1,000,000 Private Placement Financing
Burnaby, British Columbia--(Newsfile Corp. - July 5, 2022) - Aether Catalyst Solutions, Inc. (CSE: ATHR) (FSE: 2QZ) ("ATHR" or the "Company") is pleased to announce that its Subsidiary Cap Clean Energy Corp. ("Cap Clean") is undertaking a non-brokered private placement of up to 4,000,000 units (the "Units") at a price of $0.25 per Unit for total proceeds of up to $1,000,000 (the "Offering"). Each unit will consist of one common share in the capital of Cap Clean (a "Common Share") and one-half of a transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional Common share exercisable at $0.325 per Warrant share for a period of the greater of two years after the closing of the Offering (the "Closing") or 12 months from the date that the shares of Cap Clean are listed for trading on a recognized stock exchange in Canada.
Cap Clean intends to use the proceeds of the Offering to acquire mineral pore space and technology licenses for the development of net zero energy projects and for general working capital purposes.
Steve Polvi, CEO of Cap Clean Energy commented: "We are excited to advance our strategy of creating shareholder value through the development of a portfolio of high-quality, low carbon energy projects. Strong energy fundamentals combined with an accelerating energy transition offer both short and long-term growth opportunities."
Paul Woodward, President & CEO of Aether Catalyst Solutions, Inc. commented: "The Cap Clean team have identified projects and technologies and are now ready to raise capital to execute on their development. Aether is delighted with the pace with which they've moved and the scope of their plans."
ABOUT CAP CLEAN:
Cap Clean Energy, a subsidiary of Aether Catalyst Inc., is focused on the development and ownership of utility scale zero emission dispatchable power generation with Carbon Capture & Storage (CCS) hubs in Canada and around the world. Cap Clean Energy proposes clean energy hubs anchored by zero emission electricity & CCS that enable the low-cost production of biofuel, hydrogen, and CCS as-a-service. Clean energy hubs facilitate circular economies that support the reduction of emissions across hard-to-abate sectors such as agriculture, energy, transportation, and manufacturing.
Aether Catalyst Solutions, Inc., a clean-air tech company, is focused on providing an order of magnitude cost reduction in automotive catalytic converter catalyst tech, while meeting, or exceeding government emission standards. Aether is working quickly to advance its technology through rapid screening of new material combinations. To date, Aether's primary focus has been on catalyst development for the transportation and small motors industries - both significant contributors to urban air pollution. Recently Aether formed a subsidiary company, Cap Clean Energy Corp., to explore other applications in clean-air technology.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aether Catalyst Solutions, Inc.
President & CEO
Tel: 604 690-3797
Cap Clean Energy Corp.
Chief Executive Officer
The Canadian Securities Exchange ("CSE") or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this management prepared news release.
This release may include certain statements that are deemed "forward-looking statements." All statements in this release, other than statements of historical facts, which address events or developments that Aether expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
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