Company also announces extension to close of second tranche of Private Placement
TORONTO, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Clear Blue Technologies International Inc. (TSXV: CBLU) (FRANKFURT: OYA), the Smart Off-Grid? Company, announces that CEO Miriam Tuerk will host and present on the AI/Analytics panel at the upcoming TowerXchange Meetup Africa 2024 conference. The conference is scheduled for September 10 and 11 in Nairobi, Kenya.
Panel discussion to focus on tangible improvements digital infrastructure owners are generating from the application of better monitoring, analytics, automation and Artificial Intelligence (AI) /Machine Learning (ML).
“With over 50% of Africa lacking mobile connectivity, tower companies have a major role to close the continent’s infrastructure gap,” said Ms. Tuerk. “Artificial Intelligence and predictive analytics is a powerful enabler to obtain better performance from infrastructure, accelerating Africa’s digital, social and economic development. Clear Blue has been at the forefront of these solutions and offers proven, cost effective, environmentally friendly, and easily deployable Smart Power services and solutions to help make this leap in infrastructure. I look forward to exchanging knowledge with government representatives, tower executives, and other stakeholders at TowerXchange Meetup Africa 2024.”
Extension of Private Placement Second Closing
Clear Blue today also announces the extension of its non-brokered convertible debenture private placement (the “Offering”), previously set to end on September 1, 2024, to September 30, 2024. The closing of the initial tranche of the Offering was announced on August 6, 2024, in which gross proceeds of approximately $1.41M were subscribed for. The Company also intends to increase the size of the Offering from $2M to $2.5M collectively across all tranches. Additionally, the Company is correcting the disclosure of the strike price of certain broker warrants issued in the first tranche of the Offering from $0.06 to $0.10, and correcting the disclosure of cash finder’s fees from $10,080 to $5,740.
About TowerXchange
TowerXchange is an open community for thought leaders in the telecom infrastructure industry. We bring together MNOs, towercos, investors, equipment and service providers to share best practices in passive and active infrastructure management, opex reduction, and to accelerate infrastructure sharing. For more information, visit https://meetup.towerxchange.com
Clear Blue Technologies International, the Smart Off-Grid? company, was founded on a vision of delivering clean, managed, “wireless power” to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today, Clear Blue has thousands of systems under management across 37 countries, including the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)
Legal Disclaimer
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Forward-Looking Statement
This press release contains certain "forward-looking information" and/or "forward-looking statements" within the meaning of applicable securities laws. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Clear Blue’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Clear Blue's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, information concerning financial results and future upcoming contracts.
By identifying such information and statements in this manner, Clear Blue is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Clear Blue to be materially different from those expressed or implied by such information and statements.
An investment in securities of Clear Blue is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risk Factors" in Clear Blue's listing application dated July 12, 2018. Although Clear Blue has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
In connection with the forward-looking information and forward-looking statements contained in this press release, Clear Blue has made certain assumptions. Although Clear Blue believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release. All subsequent written and oral forward- looking information and statements attributable to Clear Blue or persons acting on its behalf is expressly qualified in its entirety by this notice.”
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
