October 11, 2024 9:00 AM EDT
Vancouver, British Columbia–(Newsfile Corp. – October 11, 2024) – A public company listed on the Canadian Securities Exchange under the trading symbol PWR and on the US OTC Market under the symbol CPIVF announces that, further to its news release of August 30, 2024, the Company has entered into an amending agreement in respect of the previously announced share repurchase agreement with its wholly-owned subsidiary, Ronnie Strasser, and certain shareholders of the Company.
The parties involved have agreed to amend the Repurchase Agreement to extend the completion date of the transaction to December 31, 2024, amend the hold periods for certain shares, and provide for the transfer of additional shares in the event that the transactions do not close before the designated date.
Additionally, the Company has entered into an amending agreement in respect of the previously announced option agreement with Strasser and certain shareholders of the Company. The Option Agreement has been amended to allow for the exercise of the option in three portions, with specific deadlines for each portion.
Both transactions are subject to regulatory approvals and may not close on the terms described or at all.
Private Placement
The Company has arranged a private placement with a European finder to issue and sell up to 150 million units of the Company at C$0.02 per Unit for aggregate gross proceeds of up to C$3,000,000. The net proceeds raised will be used for general working capital and to advance the Company’s business of developing sustainable real estate projects.
All securities issued in connection with the offering will be subject to a statutory hold period of four months and one day.
The securities issued in the Private Placement are not registered under the United States Securities Act of 1933 and may not be offered or sold within the United States without proper registration or exemption.
Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
The news release includes forward-looking statements based on certain assumptions and estimates. Actual results could differ materially from those anticipated in the forward-looking statements due to various uncertainties, risks, and contingencies. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226359
