Braille Energy Systems Announces Non-Brokered Private Placement

OTTAWA, ON / ACCESSWIRE / August 1, 2024 / Braille Energy Systems Inc. (TSX.V:BES) has announced a non-brokered private placement aimed at raising up to $400,000 through the sale of 4,444,444 units. Each unit is priced at $0.09 and includes one common share and one non-transferable warrant, with an exercise price of $0.10 per common share valid for 24 months from the closing date.

The financing incurs no commissions or fees, and the net proceeds will support the company's ongoing operations and general working capital. The offering, expected to close on or about August 2, 2024, is subject to approvals from the TSX Venture Exchange and other customary conditions.

The private placement will be conducted in Ontario and will target accredited investors, employees, executive officers, directors, and consultants. Insiders may subscribe for up to 2,222,222 units, accounting for $200,000 in gross proceeds, exempting the offering from certain shareholder approval requirements.