Vancouver, B.C. – October 26, 2023 - CleanGo Innovations Inc. (CSE:CGII) (OTC:CLGOF) (FRA:APO2) (“CleanGo”) or (the “Company”) is pleased to announce a non-brokered private placement of a minimum of 750,000 and up to a maximum of 1,166,670 units (the "Units") of the Company at a price of C$0.60 per Unit (the "Offering Price") for gross proceeds to the Company of a minimum of C$450,000 up to a maximum of $700,002 (the "Offering"). The Offering has been structured to take advantage of the listed issuer financing exemption whereby securities of the Company issued pursuant to the Offering will be freely tradeable equity securities not subject to any hold period (see below).
Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share of the Company (a "Warrant Share") for a period of 36 months following the Closing Date (as defined below) of the Offering at an exercise price of C$0.90 per Warrant Share.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Offering is being made to purchasers resident in each of the Provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Exemption"). The securities offered under the Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at: www.cleangoinnovations.com. Prospective investors should read this Offering Document before making an investment decision.
There are no agents, underwriters or finders engaged in connection with the Offering.
The Company plans to use the proceeds from the Offering to fund the development and running of pilot industrial programs, to fund equipment and stock purchases to further develop the Company’s product offerings and for general working capital purposes.
The Offering is scheduled to close on or about November 30, 2023 (the "Closing Date"), unless otherwise disclosed by the Company, and completion of the Offering is subject to certain conditions including, but not limited to, receiving subscriptions for the minimum amount of C$450,000 and the receipt of all necessary corporate and regulatory approvals, as applicable.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
About CleanGo Innovations
CleanGo Innovations Inc. is an international, publicly traded company that specializes in the development of early-staged, green, non-toxic and sustainable products used in retail, commercial and industrial applications.
The company is proud of its suite of proprietary, Green Seal Certified non-toxic green products that are Health Canada approved to claim 99.9% disinfecting of viruses and bacteria on a hard surface. CleanGo’s portfolio is proud to be a part of Cruelty Free / Leaping Bunny as a certified product while being both family and pet safe. It is CleanGo’s mission to create the world’s leading non-toxic, green solutions for the worlds cleaning problems.
CleanGo Innovation’s experienced team brings new ideas and innovation based on science to find solutions to the problems of current world we live in. Customers rely on quality, nontoxic products to keep their homes clean and their loved ones safe.
On behalf of the CEO & Board of Directors
Anthony Sarvucci
Chief Executive Officer
CleanGo Innovations Inc.
For More information Contact:
Phone 1 346 202 6202
Forward-looking Information
This news release may contain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. Forward-looking statements can often be identified by words such as “will”, “plans”, “expects”, “may”, “intends”, “anticipates”, “believes”, proposes” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Actual results could differ from those projected in any forward-looking statements due to numerous factors, including risks and uncertainties relating to general economic, market or business conditions or changes in laws, regulations and policies affecting the Company’s operations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. Any forward-looking statements included in this news release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.