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Source: Cleantek Industries.
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  • Raise Production (RPC) and Cleantek Industries have closed their C$10.75 million equity financing
  • The proceeds will be held in escrow until the closing of the reverse takeover between Raise and Cleantek, which is expected on or about October 31, 2021
  • Cleantek is a clean energy technology company focused on hydro-sustainability
  • Raise is an oilfield service company focused on enhancing production in oil and gas wells
  • Raise Production (RPC) closed unchanged trading at $0.025 per share

Raise Production (RPC) and Cleantek Industries have closed their C$10.75 million equity financing.

Cleantek offered subscription receipts priced at $1.75 per receipt by way of a brokered private placement.

Each subscription receipt is exchangeable into one Cleantek unit.

Each unit is comprised of one Cleantek share and one-half of one share purchase warrant.

Each warrant entitles the holder to purchase one Cleantek share for $2.25 for up to 36 months from closing, subject to acceleration.

The proceeds will be held in escrow until the closing of the reverse takeover between Raise and Cleantek, which is expected on or about October 31, 2021.

The total amount raised includes a President’s List in excess of $1.75 million.

Eight Capital, Echelon Wealth Partners, Cormark Securities and Raymond James served as investment dealers on the offering.

Cleantek is a clean energy technology company focused on hydro-sustainability with operations across North America.

Raise is an oilfield service company focused on enhancing production in oil and gas wells. 

Raise Production (RPC) closed unchanged trading at $0.025 per share.

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