OTTAWA, ON / ACCESSWIRE / November 11, 2024 / Braille Energy Systems Inc. (TSX-V:BES) ("Braille" or the "Company") is pleased to announce that further to its press release of October 16, 2024 it has secured an extension from the TSX Venture Exchange ("TSX-V") to complete the Company's previously announced equity financing (the "Offering") by December 9, 2024.
The Offering consists of an issuance of units (the "Units") at a price of $0.09 per Unit. Each Unit consists of one common share (a "Common Share") in the capital of the Company and one non-transferable common share purchase warrant (each whole warrant, a "Warrant") of the Company. Each whole Warrant will entitle the holder thereof to acquire one Common Share at an exercise price per Common Share of $0.15 for a period of 24 months from each closing of the Offering. If at any time after the four (4) months hold period noted below, the trading price of the Company's shares on the TSX-Vis equal to or exceeds CAD$0.35 for 10 consecutive trading days, as evidenced by the price at the close of market, the expiry date may be accelerated by the Company providing notice to the holders of the Warrants, and upon receipt of such notice, the holders shall have 30 days to exercise the Warrants.
The Offering is subject to the final approval of the TSX Venture Exchange.
About Braille
Braille Energy Systems Inc. holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery- manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials. For additional information about BESI and Braille Battery products, please visit our website at: www.brailleenergy.com or www.braillebattery.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.
Contact:
Judith Mazvihwa-MacLean CFO
(613) 581- 4040
jmazvihwa@grafoid.com
Forward-Looking Statements
This News Release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business and operations and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this News Release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE: Braille Energy Systems Inc.
View the original press release on accesswire.com
