Green Shift Commodities Ltd. (TSXV: GCOM), (“Green Shift” or the “Company”) is pleased to announce that it expects to close on approximately $2,500,000 million under its previously announced offering (the “Offering”) of units of the Company at a price of $0.15 per Unit (the “Issue Price”), an increase from the previously announced minimum size of $1,500,000.
Each Unit will consist of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.25 for 24 months following the date of issuance.
The Offering is a non-brokered private placement. Certain eligible finders who direct investors to participate in the Offering shall be paid a cash fee of 7% of the value of the Units sold to such investors and shall be issued such number of finders’ warrants (“Finder Warrants”) equal to 7% of the Units sold to such investors. Each Finder Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.15 for 24 months following the date of issuance.
The Company intends to use the net proceeds of the Offering to advance its battery commodity and uranium portfolio projects, working capital and general corporate purposes.
The closing of the Offering is anticipated to occur on or about December 22, 2022 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the Units will be offered for sale to purchasers resident in Canada, other than Quebec, and/or other qualifying jurisdictions. Because the Offering is being completed pursuant to the listed issuer financing exemption, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”) the securities issued in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws.
About Green Shift Commodities Ltd.
Green Shift Commodities Ltd. is focused on the exploration and development of commodities needed to help decarbonize and meet net-zero goals.
The Company is developing the Berlin Deposit in Colombia. Apart from uranium, for clean nuclear energy, the Berlin Deposit contains battery commodities including nickel, phosphate, and vanadium. Phosphate is a key component of lithium-ion ferro-phosphate (“LFP”) batteries that are being used by a growing list of electric vehicle manufacturers. Nickel is a component of various lithium-ion batteries, while vanadium is the element used in vanadium redox flow batteries. Neodymium, one of the rare earth elements contained within the Berlin Deposit, is a key component of powerful magnets that are used to increase the efficiency of electric motors and in generators in wind turbines..
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