Nexera Announces Private Placement of Units

Nexera Energy Inc. (TSXV: NGY) (OTC PINK: EMBYF) has proposed a non-brokered private placement offering up to $650,000. This translates to a maximum of 26 million common shares. Each unit will consist of one common share and one share purchase warrant. The warrant allows the holder to purchase an additional share for $0.10 within 24 months.

The warrants include an acceleration clause. If the share price reaches $0.15 or more for 30 consecutive days, the expiry date will move to 30 days after the announcement.

Net proceeds will be used by subsidiary Production Resources Inc. (PRI) for expanding oil and gas services, notably in cement services for plugging wells. This can save the company up to $12,000 per well and generate additional revenue from external operators.

Specifically, the funds will be allocated as follows: equipment purchases ($170,000), equipment refurbishing ($110,000), field testing ($120,000), permitting and commercialization ($85,000), and labor ($100,000). Any remaining funds will be used for working capital.

All shares and warrants issued in this placement are subject to a four-month hold period. The offering awaits final approval from the TSX Venture Exchange.