Tickers: XTSX:PSQ.P
Tags: #AlternativeEnergy, #Mining
July 16, 2020 - TheNewswire - Calgary, Alberta - P Squared Renewables Inc. (TSXV:PSQ.P) ("PSQ" or the "Company"), a capital pool company, is pleased to announce that, further to its June 2, 2020 news release, PSQ has closed the first tranche of its non-brokered private placement (the "Offering") of common shares ("Common Shares") on July 14, 2020. Pursuant to the Offering, PSQ issued 400,000 Common Shares at a price of $0.20 per ?Common Share for gross proceeds of $80,000. The Common Shares issued in connection with the Offering are subject to a hold period that expires on November 15, 2020.
The net proceeds of the private placement will be used for working capital purposes and to fund various transaction costs related to completion of PSQ's proposed qualifying transaction with Universal Ibogaine Inc.
The non-brokered private placement remains open and the Company may close additional tranches ?under this Offering. The completion of the Offering is subject to the Company receiving all necessary ?regulatory approvals, including final approval from the TSX Venture Exchange. ?
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
?This news release contains forward-looking statements and information. More particularly, this ?document contains statements and information concerning the timing and closing of additional ?tranches of the Offering and the use of proceeds received under the Offering, including as has been ?received in this initial closing. Forward-looking information is frequently characterized by words such ?as "plan", "expect", "project", "intend", "will", "believe", "anticipate", "estimate", "scheduled", ??"potential", or other similar words, or statements that certain events or conditions "may", "should" or ??"could" occur. The forward-looking statements and information are based on certain key expectations ?and assumptions made by PSQ, including expectations and assumptions concerning timing of ?receipt of required regulatory approval and the satisfaction of other conditions to the completion of ?the Offering. Although PSQ believes that the expectations and assumptions on which the forward-?looking statements are based are reasonable, undue reliance should not be placed on the forward-?looking statements because PSQ can give no assurance that they will prove to be correct. Since ?forward-looking statements address future events and conditions, by their very nature they involve ?inherent risks and uncertainties. Actual results could differ materially from those currently anticipated ?due to a number of factors and risks. These include, but are not limited to, risks that required ?regulatory approvals are not obtained. The reader is cautioned that assumptions used in the ?preparation of such information, although considered reasonable by the Company at the time of ?preparation, may prove to be incorrect and readers are cautioned not to place undue reliance on ?forward-looking information, which speaks only as of the date hereof. The Company does not ?undertake any obligation to release publicly any revisions to forward-looking information contained ?herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence ?of unanticipated events, except as may be required under applicable securities laws.
?For further information regarding the Offering or PSQ, please contact:
Shabir Premji, Executive Chairman & CEO
P Squared Renewables
Telephone: 403-870-1841
Email: spremji@p2renewables.com
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