- EarthRenew (ERTH) has closed its previously announced, upsized offering of units for aggregate gross proceeds of $10.35 million
- The company issued a total of 41,804,500 units for $0.25 per unit
- Net proceeds of the offering for the acquisition of equipment for the expansion of the company’s fertilizer blending facility in Alberta and for general corporate purposes
- Replenish Nutrients delivers leading regenerative fertilizer solutions to support healthy crops
- EarthRenew Inc. (ERTH) is down 5.56 per cent on the day, trading at C$0.19 per share at 1:15 pm ET
EarthRenew (ERTH) has closed its previously announced, upsized offering of units for aggregate gross proceeds of $10.35 million.
The company, the owner of leading regenerative fertilizer producer Replenish Nutrients, issued a total of 41,804,500 units for $0.25 per unit, including the partial exercise of the agent’s over-allotment option.
Each unit consists of one common share and one share purchase warrant. Each warrant will be exercisable to acquire one additional common share at a price of $0.32 per share for a period of 48 months.
The offering was led by Eight Capital, as lead agent and sole bookrunner.
Net proceeds of the offering for the acquisition of equipment for the expansion of the company’s fertilizer blending facility in Alberta, working capital and general corporate purposes.
Replenish Nutrients delivers leading regenerative fertilizer solutions to support a farm system that puts healthy soils and grower profitability back on the table. By combining Canadian-sourced nutrients with its proprietary delivery system, Replenish has developed a sustainable alternative to synthetic fertilizers that enhances overall soil function while providing plant-available nutrients farmers rely upon for healthy crops.
Replenish Nutrients is a wholly-owned subsidiary of EarthRenew Inc.
EarthRenew Inc. (ERTH) is down 5.56 per cent on the day, trading at C$0.19 per share at 1:15 pm ET.
