Clean Vision Corporation Announces $4M Financing To Fund Global Expansion

Rhea-AI Summary

Clean Vision Corporation (OTCQB:CLNV) announced the closing of a $4 million financing on February 23, 2023, intended to accelerate its global operations and support its environmental initiatives. The financing consists of two tranches: $2.5 million upon document execution and $1.5 million contingent upon filing a registration statement with the SEC. The capital will primarily aid Clean-Seas, Inc. in acquiring Ecosynergie Group in Morocco and advancing EcoCell, Inc.'s hybrid hydrogen fuel cell technology. Spartan Capital Securities acted as the placement agent, facilitating future capital needs and plans for a potential stock uplisting.

Positive

• Secured $4 million financing to accelerate global operations.
• Funding will support acquisition of Ecosynergie Group in Morocco.
• Capital will enhance development of hybrid hydrogen fuel cell technology.

Negative

• None.

LOS ANGELES, CA / ACCESSWIRE / February 28, 2023 / Clean Vision Corporation (OTCQB:CLNV) ("Clean Vision" or the "Company"), an emerging leader in the sustainable clean technology and green energy sectors, today announced that it has closed a $4 million dollar financing on February 23, 2023, which the Company believes will allow the Company to rapidly execute on its business model of supporting a portfolio of sustainable ventures targeting key environmental challenges.

The funding came from a multi-billion-dollar multi-strategy platform hedge fund with approximately $5 billion in assets under management that seeks to build talent density across all areas of its business, providing its team with world class resources for optimal results.

Under the terms of the financing, Clean Vision will receive funds in two tranches: $2.5 million upon execution of all documents, and the remaining $1.5 million upon the filing of a registration statement on Form S-1 with the U.S. Securities and Exchange commission (the "SEC") within thirty (30) days of the closing of the financing.

"This capital will allow Clean Vision to rapidly expand its global operations and provide its wholly-owned subsidiary, Clean-Seas, Inc., with the necessary resources to close its acquisition of Ecosynergie Group in Morocco and begin recognizing revenue from the current operations," stated Dan Bates, CEO of Clean Vision. "EcoCell, Inc., a wholly-owned subsidiary of Clean Vision, will also benefit from this investment, and the Company looks forward to completing its development of the hybrid hydrogen fuel cell technology."

Spartan Capital Securities, LLC served as the sole placement agent for the financing and will assist in securing the Company's future capital needs and support its plans for an uplisting to a senior exchange

"Spartan is delighted to partner with Clean Vision, a company with proven management, great products, and a timely plan to target a global market opportunity," said Jason Diamond, Head of Investment Banking.

About Clean Vision Corporation

Clean Vision Corporation operates and intends to acquire and operate a portfolio of synergistic companies in the sustainable clean technology and green energy sectors. For more information, visit: cleanvisioncorp.com and follow us on Twitter: @CleanVisionCorp.

About Clean-Seas, Inc.

Clean-Seas, Inc. is a wholly owned subsidiary of Clean Vision. It is working to provide efficient and cost-effective technology solutions that address the global waste plastic crisis locally while creating economic opportunity and social benefit across the world. Clean-Seas, Inc. plans to offer "best in class" pyrolysis technology deployment with strategic alliances for plastic diversion and conversion, including securing feedstock of plastic and off-take agreements. For more information, visit: clean-seas.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, statements about our potential acquisitions; our ability to develop and complete development of certain technology; our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; our predictions about our industry; the impact of the COVID-19 pandemic on our business and our ability to attract, retain and cross-sell to clients. The forward-looking statements contained in this press release are also subject to other risks and uncertainties. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Contact
Clean Vision Corporation
Dan Bates, CEO
d.bates@cleanvisioncorp.com

Investors
Frank Benedetto
619-915-9422

SOURCE: Clean Vision Corporation

View source version on accesswire.com:
https://www.accesswire.com/741112/Clean-Vision-Corporation-Announces-4M-Financing-To-Fund-Global-Expansion

FAQ

What is the amount of financing Clean Vision Corporation secured?

Clean Vision Corporation secured $4 million in financing.

When did Clean Vision close its financing deal?

Clean Vision closed its financing deal on February 23, 2023.

What are the uses of the funds from Clean Vision's financing?

The funds will be used to expand global operations and acquire Ecosynergie Group.

Who was the placement agent for Clean Vision's financing?

Spartan Capital Securities, LLC served as the sole placement agent.

What is the purpose of the registration statement Clean Vision has to file?

The registration statement is required to receive the second tranche of $1.5 million.