Nexera Announces Closing of Private Placement

Rhea-AI Summary

Nexera Energy Inc. (OTC PINK:EMBYF) has successfully closed its private placement, issuing 13,333,330 units at $0.06 each, totaling $800,000. Each unit comprises one common share and one warrant, which allows the purchase of an additional share at $0.10 within 12 months. Proceeds will support operational activities, including mineral lease acquisitions and equipment purchases. All securities are subject to a 4-month hold period and await final approval from the TSX Venture Exchange.

Positive

• Successfully closed private placement raising $800,000.
• Issued 13,333,330 units at $0.06, enhancing liquidity.
• Proceeds allocated for mineral lease acquisitions and operational investments.

Negative

• None.

SAN ANTONIO, TX & CALGARY, AB / ACCESSWIRE / March 1, 2021 / Nexera Energy Inc. (TSXV:NGY)(OTC PINK:EMBYF) (the "Corporation", the "Company" or "Nexera") today reported that the Corporation has closed its previously announced private placement. Pursuant to this closing, an aggregate 13,333,330 units ("Units") were issued at a price of $0.06 per Unit, for aggregate consideration of $800,000. Each Unit consisted of one (1) Common Share of the Corporation and one (1) share purchase warrant (the "Warrant") (each full Warrant shall entitle the holder thereof to purchase one (1) additional Common Share of the Corporation for a period of 12 months from the issuance of the Units at a price of $0.10) (the "Offering").

The Warrants are subject to an acceleration clause whereby if after four months and one day following the date the Warrants are issued, the closing price of the Common Shares of the Corporation on the principal market on which such shares trade is equal to or exceeds $0.15 for 30 consecutive trading days (with the 30^th such trading date hereafter referred to as the "Eligible Acceleration Date"), the Warrant expiry date shall accelerate to the date which is 30 calendar days following the date a press release is issued by the Corporation announcing the reduced warrant term, provided, no more than five business days following the Eligible Acceleration Date: (i) the press release is issued; and (ii) notices are sent to all warrant holders.

The net proceeds from this offering will be used as follows, in accordance with day-to-day operations: (i) Stockdale Horizon prospect mineral lease acquisitions; (ii) Wooden Horse project mineral lease acquisitions, renewals and drilling of the Patriot well(s); (iii) service equipment purchase(s); and (iv) working capital purposes.

All of the Common Shares and Warrants issued pursuant to the private placement are subject to a 4-month hold period. Completion of the private placement is subject to the final approval of the TSX Venture Exchange.

About Nexera Energy Inc.
Nexera Energy Inc. (TSXV:NGY)(OTC PINK:EMBYF) is an energy company with oil producing properties in Southwest Texas. Nexera is the owner and operator of the Lavernia, Wooden Horse, and Stockdale Horizon Projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Hagco, Alliance, and MarPat partnerships. The Company also owns 75% of Production Resources Inc., a South Texas oil company.

For further information, please contact:
Nexera Energy Inc. President, Shelby D. Beattie
Telephone: (403) 262-6000
Email: info@ebyinc.com
www.nexeraenergy.com

Neither 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.

Forward-Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect", "plan", "intend", "anticipates", "projects", "potential" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements are statements that are not historical facts.

Information inferred from the interpretation of drilling results may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a well is actually developed. BOE's may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is based on energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by Emerald Bay at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided and the variations may be material. There is no representation by Emerald Bay that actual results achieved will be the same in whole or part as those indicated in the forward-looking statements. Forward-looking statements in this document include statements regarding the Company's exploration, drilling and development plans, the Company's expectations regarding the timing and success of such programs. In particular, forward-looking information in this news release includes, but is not limited to, statements with respect to: pipeline acquisitions and leasing; pipeline permits, pipeline construction, production estimates, drilling operations, completion operations, funding and development goals. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Factors that could cause or contribute to such differences include, but are not limited to, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and timing of development activities, competition, operating risks, acquisition risks, liquidity and capital requirements, the effects of governmental regulation, adverse changes in the market for the Company's oil and gas production, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the applicable securities regulators.

SOURCE: Nexera Energy Inc.

View source version on accesswire.com:
https://www.accesswire.com/632848/Nexera-Announces-Closing-of-Private-Placement

FAQ

What is the recent private placement amount reported by Nexera Energy Inc. (EMBYF)?

Nexera Energy Inc. reported a private placement amounting to $800,000.

How many units were issued in Nexera Energy's private placement?

A total of 13,333,330 units were issued in the private placement.

What is the price per unit in Nexera's recent offering?

The price per unit in Nexera's recent offering was $0.06.

What will the proceeds from the private placement be used for?

The proceeds will be used for mineral lease acquisitions, drilling projects, and working capital.

What is the exercise price of the warrants issued by Nexera Energy (EMBYF)?

The warrants issued allow for the purchase of additional shares at an exercise price of $0.10.