Northstar Secures $1 Million in Unsecured Debenture Financing to Boost Operations

Northstar Secures $1 Million in Unsecured Debenture Financing

In a significant development for Northstar Clean Technologies Inc., the company has successfully closed a financing round, raising $1 million through unsecured debentures. This achievement represents the second closing in a series aimed at bolstering the company's operational capacity, particularly at its Empower Environmental Solutions facility located in Calgary, Alberta.

Details of the Financing

The financing involves 200 units of debentures, each with a face value of $5,000. Each unit also comes with 2,500 detachable warrants that are not transferable. Key financial terms include a 9.0% coupon rate, which can be paid semi-annually in either cash or shares. The exercise price for the attached warrants is set at $0.35, valid for a period of 36 months following the closing date. Notably, all securities issued will be subject to a statutory hold period that extends to May 24, 2026.

Aidan Mills, CEO of Northstar, emphasized that this financing underscores the company’s dedication to minimizing shareholder dilution while pursuing its commercial objectives. Mills expressed optimism about the operational milestones within the Empower Calgary facility and indicated that a detailed operational update would be unveiled at the end of February.

Utilization of Proceeds

The funds raised will be primarily allocated to ramping up operations at the Empower Calgary facility and handling general corporate needs. The majority of the financing was facilitated through an arrangement with Leede Financial Inc., which received a cash commission of $45,000 for its role in sourcing this financing.

Northstar’s Sustainability Goals

Northstar Clean Technologies focuses on sustainable methods for recovering and repurposing asphalt shingles, which often end up in landfills. By developing an innovative process, Northstar extracts liquid asphalt from discarded shingles to be reused in the production of new hot mix asphalt and other construction materials. The company’s commitment to the circular economy positions it as a leader in the asphalt recovery sector in North America, ultimately contributing to waste reduction and environmental preservation.

As Northstar continues to evolve, it maintains transparency with investors, offering real-time financial updates and information through platforms like OTC Markets. The company's forward-looking strategies aim not only to improve its financial standing but to foster a more sustainable future for roofing materials.

Conclusion

With the recent infusion of capital, Northstar Clean Technologies is strategically poised to enhance its operational framework, expand its market reach, and lead the charge in sustainable waste processing initiatives. As they prepare to share new developments in the coming months, stakeholders will be closely monitoring the company’s progress toward becoming a significant player in the sustainable building materials industry.

For further insights about Northstar Clean Technologies, visit Northstar's official website.