Perpetual Industries Inc. Launches Reg D-506(C) Common Stock Offering

Rhea-AI Summary

Perpetual Industries Inc. (OTC PINK:PRPI) announced a common stock offering of up to 10 million shares at $0.30 per share, aiming to raise $3 million. The offering is for accredited investors under Regulation D, Rule 506(c). Proceeds will be utilized for general working capital, operational plans, and development costs, including administrative, legal, and research expenses. CEO Brent W. Bedford emphasized the company's focus on innovation in Green Energy and Blockchain applications, stating that this capital will support further growth and execution of their strategy.

Positive

• Offering of up to 10 million shares at $0.30 can raise significant capital ($3 million).
• Proceeds will fund operational plans and development, enhancing growth opportunities.
• Focus on innovative technologies in Green Energy and Blockchain could attract investor interest.

Negative

• Offering limited to accredited investors may restrict potential capital influx.
• No guarantee that proceeds from the offering will lead to successful project developments.

AUBURN, IN / ACCESSWIRE / September 25, 2020 / Perpetual Industries Inc. (OTC PINK:PRPI) (the "Perpetual" or the "Company") is pleased to announce today that it will offer up to 10,000,000 shares of its common stock at $0.30 per share for an aggregate offering amount of $3,000,000. The shares will be offered to accredited investors only pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended (the "Securities Act"). Although general solicitation is permitted under Rule 506(c) offerings, purchasers must be accredited investors and meet certain SEC verification requirements for validation of their "accredited investor" status.

Perpetual intends to use the proceeds from the stock offering principally for general working capital purposes and for funding the operational plan for project development purposes, including but not limited to, general and administrative expenses, intellectual property acquisition costs, legal and accounting expenses, research & development expenses, and marketing expenses.

"Perpetual Industries is positioned to contribute to the advancement of innovation in key growth industries such as Green Energy and Blockchain applications. We believe our company's vision for creating new, innovative, and energy efficient products offers an exciting investment opportunity and should be considered for inclusion in any investment portfolio. We expect this offering will provide Perpetual with the capital needed to continue the execution of our operational plan and acquisition strategy for future growth in the company," stated Brent W. Bedford, CEO of Perpetual Industries Inc.

This press release does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful. Further, the securities being offered by Perpetual have not been registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from the registration requirements.

For additional information about Perpetual and to request our offering materials, please visit: finance.perpetualindustries.com.

About Perpetual Industries Inc.

Incorporated in Nevada and based in Auburn, Indiana, Perpetual Industries Inc. (OTCMARKETS:PRPI) is an incubator for the development of new and innovative energy efficient technologies. Our mission is to ‘perpetuate industry' by bringing value-added technologies to market. At the company's core is a proprietary technology known as The XYO Mechanical Balancing Technology, designed specifically to dynamically eliminate vibration in rotating equipment to create energy efficient, environmentally responsible products. We are expanding our expertise and knowledge of energy efficient technology by developing low cost, green energy powered solutions for a variety of industries including renewable energy, blockchain mining, artificial intelligence, graphic rendering, internet of things (IoT), and cloud computing while continuing our research, development, and commercialization of the XYO Technology in key applications.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995 and "forward-looking information" as such ‎term is ‎defined in applicable US and Canadian securities legislation. The words "may," "would," "could," ‎‎"should," "potential," ‎‎"will," "seek," "intend," "plan," "anticipate," "believe," "estimate," "expect" and ‎similar expressions as they relate ‎to the Company. Such statements reflect the ‎Company's current views and intentions with respect to future ‎events, and current information ‎available to the Company, and are subject to certain risks, uncertainties and ‎assumptions, including, ‎without limitation: the conditions to closing of the transaction being satisfied, including obtaining all necessary approvals for the transaction. Should any factor affect the Company in an unexpected manner, ‎or should assumptions underlying the forward-‎looking information or statements prove incorrect, the actual ‎results or events may differ materially from the results or events ‎predicted. Any such forward-‎looking information or statement is expressly qualified in its entirety by this cautionary statement. ‎Moreover, the ‎Company does not assume responsibility for the accuracy or completeness of such forward-looking ‎‎information or statement. The forward-looking information and/or statements included in this press release is made as of the date of ‎this press ‎release and the Company undertakes no obligation to publicly update or revise any ‎forward-looking information, ‎other than as required by applicable law.

For further information, please contact:

Carl Dilley, Chief Operating Officer
Perpetual Industries Inc.
Phone: 702-707-9811
Email: finance@perptualindustries.com

SOURCE: Perpetual Industries Inc.

View source version on accesswire.com:
https://www.accesswire.com/607803/Perpetual-Industries-Inc-Launches-Reg-D-506C-Common-Stock-Offering

FAQ

What is the stock offering amount for Perpetual Industries Inc. (PRPI)?

Perpetual Industries has announced a stock offering amount of up to $3 million.

How many shares are being offered in the PRPI stock offering?

The company is offering up to 10 million shares of common stock.

What is the price per share in the Perpetual Industries offering?

The shares are being offered at a price of $0.30 each.

Who can purchase shares in the PRPI offering?

The shares are available only to accredited investors under Regulation D, Rule 506(c).

What will the proceeds from the PRPI offering be used for?

Proceeds will be used for working capital and funding operational plans.