Tisdale Clean Energy closes first tranche of private placement.
Tisdale Clean Energy Closes First Tranche of Private Placement
Vancouver, B.C., December 22, 2023 – TISDALE CLEAN ENERGY CORP. (the “Company” or
“Tisdale”) (CSE: TCEC, OTCQB: TCEFF, FSE: T1KC), is pleased to announce that it has closed
the first tranche of its non-brokered private placement (the “Offering”) and has issued 4,305,556
units (each, a “ Unit”) at a price of $0. 18 per Unit for gross proceeds of $775,000. Each “Unit”
consists of one common share of the Company and one share purchase warrant exercisable at
a price of $0.30 until December 22, 2025. The proceeds from the Offering will be used for general
working capital purposes.
In connection with completion of the first tranche of the Offering, the Company paid $6,300 and
issued 35,000 share purchase warrants (each, a “Brokers Warrant”) to an arms-length brokerage
firm who assisted in introducing subscribers to the Offering. Each Brokers Warrant is exercisable
at a price of $0.30 until December 22, 2025. All securities issued in connection with the first
tranche of the Offering are subject to restrictions on resale until April 23, 2024 in accordance with
applicable securities laws.
The Company intends to complete a further tranche of the Offering and will provide additional
details as soon as they become available. Completion of a further tranche of the Offering remains
subject to any required regulatory approvals.
Appointment of Chief Financial Officer
The Company also announces that Brian Shin has been appointed as Chief Financial Officer of
the Company, effectively immediately, replacing Richard Ko. The board of directors of the
Company thanks Mr. Ko for his service to the Company.
For further information, contact Alex Klenman at [email protected] or 604.970.4330.
ON BEHALF OF THE BOARD OF TISDALE CLEAN ENERGY CORP.
“Alex Klenman”
Alex Klenman, Chief Executive Officer
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This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release,
the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or
expressions identify forward-looking statements or information. These forward-looking statements or information may
relate to the anticipated use of proceeds from the Offering and other factors or information. Such statements represent
the Company’s current views with respect to future events and are necessarily based upon a number of assumptions
and estimates that, while considered reasonable by the Company, are inherently su bject to significant business,
economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and
unknown, could cause results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward -looking statements. The Company does not
intend, and does not assume any obligation, to update these forward -looking statements or information to reflect
changes in assumptions or changes in circumstances or any other events affecting such statements and information
other than as required by applicable laws, rules and regulations.