NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
MONTREAL, September 16, 2019 – Earth Alive Clean Technologies Inc. (CSE: EAC) (“Earth Alive” or the “Corporation”), a Canadian soil health company that develops and manufactures state-of-the-art microbial technology-based products for sustainable agriculture and infrastructure maintenance, has filed a second amended and restated preliminary short form prospectus (the “Second Amended and Restated Prospectus”), which amends and restates the amended and restated preliminary short form prospectus filed by the Corporation on June 27, 2019, amending and restating the preliminary short form prospectus filed on June 17, 2019.
Under the Second Amended and Restated Prospectus, the Corporation has amended the terms of its prospectus financing by offering units (“Units”, each a “Unit”) at a price of $0.10 per Unit for a minimum amount of $4,000,000 and a maximum amount of $5,000,000 (the “Offering”). Each Unit consists of one common share of the Corporation (a “Unit Share”) and one common share purchase warrant of the Corporation (a “Warrant”). Each Warrant will entitle the holder to acquire, subject to adjustment, one common share of the Corporation (a “Warrant Share”) at a price of $0.25 per Warrant Share at any time before 5:00 p.m. (Montreal time) on the date that is 24 months following the closing date of the Offering.
The Offering is being conducted on a “best efforts” agency basis in the provinces of Alberta, British Columbia, Ontario and Quebec under the terms of an agency agreement to be entered into between the Corporation and Desjardins Capital Markets.
As previously disclosed, the net proceeds from the Offering will be mainly used for the advancement of sales, marketing and commercialization of Soil Activator and the dust control product EA1 (the Corporation’s marquis products), research and development, including expanding the scope of use of EA1, to develop new markets for this innovative technology in addition to increasing its use in the mining sector, repayment of outstanding debentures, and for general corporate purposes.
The Corporation has applied to list its Common Shares, including the Unit Shares and the Warrant Shares, on the TSX Venture Exchange (the “TSXV”). The Corporation also intends on applying to list the Warrants on the TSXV. Concurrently with their listing on the TSXV, the Corporation will delist the common shares currently posted and traded on the Canadian Securities Exchange (the “CSE”). A copy of the Second Amended and Restated Prospectus is available under the Corporation’s SEDAR profile at www.sedar.com or by request to Desjardins Capital Markets at firstname.lastname@example.org. The Offering is subject to certain customary conditions including, the receipt of all necessary approvals, including the approval of the TSXV or the CSE, as the case may be.
This press release does not constitute an offer to sell or a solicitation of an offer to buy Units in the United States. The Units, Unit Shares and Warrants have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold in the United States except in transactions exempt from the registration requirements of the 1933 Act and all applicable state securities laws.
About Earth Alive Clean Technologies
Earth Alive aims to be a key player in world markets of environmentally sustainable industrial solutions. The Company works with the latest innovations in microbial technology to formulate and patent innovative products that can tackle the most difficult industrial challenges, once only reserved to environmentally harmful chemicals and additives. The Company is focused on environmental sustainability in the agriculture industry and dust control for the mining industry. For additional company information, please visit: www.earthalivect.com.
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although Earth Alive believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Earth Alive Clean Technologies Inc.,
9641 Rue Clement
Lasalle, Québec Canada
For information, please contact:
Mr. Michael Warren
(p) 438 333-1680