Earth Alive Clean Technologies Inc. (EAC.WT)) (“Earth Alive” or the “Corporation”), a Montreal-based soil health company that develops and manufactures state-of-the-art microbial technology-based products for sustainable agriculture and dust control solutions, recently announced the closing of its Short Form Prospectus offering of 40,000,000 units of the Corporation at a price of $0.10 each, for gross proceeds of $4,000,000 with Desjardins Capital Markets acting as agent (the “Agent”). Each Unit issued consists of one common share and one common share purchase warrant having an exercise price of $0.25 and a term of two years following the closing date.
The net proceeds from the Offering will be used mainly for the advancement of sales, marketing and commercialization of Soil Activator and the dust control product EA1 (the Corporation’s marquis products), research and development and for general corporate purposes.
The Corporation also reports that it has received the conditional approval of the TSX Venture Exchange for the listing of its common shares as well as for the common share purchase warrants to be issued under the Offering. As soon as practicable following the Closing Date, the Corporation will seek to have its common shares delisted from the Canadian Securities Exchange (the “CSE”). Such listing remains subject to the satisfaction of customary listing conditions of the TSX Venture Exchange.
Earth Alive developed the only microbial organic and biodegradable dust suppressant product in the world. Called EA1TM, the company claims it is the most efficient dust control alternative that eliminates 90% of dust on work sites.
EA1 reduces dust by unleashing the power of microbial technology to keep dust particles in the soil. EA1 reintroduces natural microbial strains compounds already found in nature into the ground to create conditions that prevent dust from becoming airborne, while helping to retain soil moisture. In other words, microbial spores are activated after application and thrive in the soil binding soil particles and creating a firm and resistant layer preventing dust emission.
About Earth Alive Clean Technologies
Earth Alive aims to be a key player in world markets of environmentally sustainable industrial solutions. The Company works with the latest innovations in microbial technology to formulate and patent innovative products that can tackle the most difficult industrial challenges, once only reserved to environmentally harmful chemicals and additives. The Company is focused on environmental sustainability in the agriculture industry and dust control for the mining industry.