ZAIRF - ABOUND Announces Unit Offering
(TheNewswire)
VANCOUVER, BC – TheNewswire - July 9,2024 - ABOUND Energy Inc. (“ ABOUND ” or the“ Company ”) ( CSE : ABND) (OTCPINK: ZAIRF) (FSE: 0E9) proposes to complete anon-brokered private placement of up to5,000,000 units (the " Units ") at an offering price of $0.10 perUnit, to raise gross proceeds of up to $500,000 (the" Offering "). Each Unit will consist of one (1) common share ofthe Company and one (1) transferable share purchase warrant (the" Warrants "). Each Warrant will be exercisable to acquire oneadditional common share at an exercise price of $0.20 per share for aperiod of one (1) year from the date of closing of the Offering. Thefirst tranche of the Offering is expected to close by July 16, 2024with up to 3,500,000 Units sold for gross proceeds of up to $350,000.
The net proceeds of the Offering will be used forworking capital expenditures including operating expenses, payment ofaccounts payable, research and development, pursuing advancement ofthe Company's business plan, salaries and wages, and professionalfees. Finder's fees and/or commissions may be paid in connection withthat funding. This news release is for information purposes only anddoes not constitute an offer to sell or a solicitation of an offer tobuy any securities of the Company in any jurisdiction.
All securities issued pursuant to the Offering will besubject to a hold period of four (4) months and a day from the closingdate in accordance with securities laws. Insiders are expected toparticipate in the Offering. Any participation by insiders in theOffering will constitute a related party transaction underMultilateral Instrument 61-101 – Protection of Minority Security Holders inSpecial Transactions (“ MI 61-101 ”) but isexpected to be exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101. The closing of thisOffering remains subject to several conditions including receipt ofsubscriptions and regulatory approval, if required.
The Company announces the grant of an aggregate of729,000 incentive stock options to certain directors, officers andconsultants of ABOUND at an exercise price of $0.10 per share for aperiod of 5 years. Such options are granted pursuant to the Company's10% rolling stock option plan and are in accordance with policies ofthe Canadian Securities Exchange.
About ABOUND Energy Inc.
ABOUND specializes in developing scalable,environmentally friendly, long-lasting energy technology. Our patentedZaeras™ long-duration energy storage technology, leveraging zinc-airchemistry, guarantees the storage and on-demand delivery ofelectricity without the limitations or environmental risks associatedwith current market leaders.
About ABOUND’s Zaeras™Technology
Zaeras™ is precision-engineered to meet future energyrequirements, with a specific emphasis on simplifying long-durationenergy storage. Harnessing the potential of its multi-patentedZaeras™ technology, ABOUND is poised to facilitate the seamlessintegration of green energy sources into the grid. This is achieved byminimizing curtailment, bridging the gap between supply and demand,and efficiently integrating green energy into the grid. ABOUND'sstrategic initiatives encompass opportunities for peak demandreduction, leveraging time-of-use arbitrage, participating in valuestacking programs, and entering the distributed long-duration energystorage sector. These endeavors are aligned with our central objectiveof increasing the integration and resiliency of green energy, whilestabilizing the grid.
Distinguished by its inherent safety—free from fireor explosion hazards—Zaeras™ guarantees sustained capacity over anextensive lifecycle. Simultaneously, it showcases versatility byindependently managing charge and discharge operations. Comparable toother Flow Battery technologies, scaling up the energy capacity ofZaeras™ is as simple as increasing the size of the fuel tank; acost-effective solution, from kWh to MWh . This isa welcome alternative to the fixed power-to-energy ratio constraintsingrained in traditional systems, such as Li-ion and Zinc HybridBatteries.
To learn more about ABOUND’s technology, pleasevisit: https://Abound.Energy
For more information pleasecontact:
Jason Birmingham, CEO
Email: Investors@Abound.Energy
Ph: +1 (672) 887-9688
Notice Regarding Forward LookingStatements
This news release may contain certain “forwardlooking statements.” Forward-looking statements involve known andunknown risks, uncertainties, assumptions, and other factors that maycause the actual results, performance, or achievements of the Companyto be materially different from any future results, performance orachievements expressed or implied by the forward-looking statements.Any forward-looking statement speaks only as of the date of this newsrelease and, except as may be required by applicable securities laws,the Company disclaims any intent or obligation toupdate any forward-looking statement, whether asa result o f new information , future events, or results or otherwise.
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