- NXT Energy Solutions ( OTCQB:NSFDF ) has received conditional approval from the Toronto Stock Exchange to offer a multi-tranche private placement, under which the subscribers will be able to purchase up to ~11.9M shares at a price of $0.195 per share.
- Total gross proceeds of ~$2.32M.
- As of December 22, 2022, the amount of ~$1.79M or 9.18M shares have been subscribed for by participants in the private placement.
- The company intends to complete the remaining $530,885 of the private placement by January 27, 2023.
- Shares issued as a result of the private placement will be subject to a hold period of four months plus a day from the date of issuance.
- The proceeds will be used to support the general and administrative costs which include business development and marketing activities required to transform the existing pipeline of opportunities into firm contracts.
For further details see:
NXT announces $2.32M private placement