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Calgary, Alberta–(Newsfile Corp. – March 7, 2024) – Green Impact Partners Inc. (TSXV: GIP) (“GIP” or the “Company”) announces that the Company is working towards final closing conditions. I will announce that I am there. GreenGas Colorado’s Investment Tax Credit (“ITC”), which is expected to expire in the coming weeks. As previously disclosed, upon completion of the Purchase and Sale Agreement (the “PSA”) with ITC, GIP will receive net proceeds of approximately US$15.5 million.
As a result of the delay in completing the GreenGas Colorado ITC sale, GIP entered into agreements (the “Option Agreements”) with various directors of the Company (the “Optionees”). He paid $6,000,000 to GIP to provide additional liquidity to GIP until the sale of GreenGas Colorado ITC is completed. In return, GIP has granted optionees options (the “Options”) to purchase certain ITCs that the Company may receive from future renewable natural gas projects (other than GreenGas Colorado).
Jesse Douglas, CEO ” he said. “Our team is working diligently towards financial completion of Future Energy Park and is moving forward with additional projects in our development portfolio.”
Pursuant to the Option Agreement, the Optionee shall have the right to purchase ITC from the Company for a period of five years. During the term of the Option Agreement, the Company, at its sole option, will repurchase the Option from the Optionee by paying the full amount previously funded by the Optionee to the Company, plus interest at the rate of his 1.25% per month. can do.
The Option Agreement constitutes a “related party transaction” for GIP within the meaning of Multilateral Instrument 61-101. Protection of minority security holders in special transactions (“MI 61-101”). The individuals entering into the option agreements are directors of the Company. The Company believes that, pursuant to the exemptions set forth in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, this transaction is subject to the formal evaluation and minority shareholder approval requirements of MI 61-101. It was determined that the exemption would be granted.
About Green Impact Partners
Green Impact Partners is paving the way towards a sustainable future by turning waste into clean, renewable energy. Acquire, develop, build and operate facilities that not only produce energy but also play a key role in waste reduction and emissions reduction, with a focus on renewable natural gas (RNG) and clean bioenergy projects. That is our mission. Our comprehensive approach spans the entire project lifecycle, from idea generation to construction to ongoing operations. In addition to RNG and clean bioenergy projects, GIP maintains a current portfolio of water and solids treatment and recycling facilities in Canada, alongside solids recycling operations in the United States.
Green Impact Partners, which trades on the TSX Venture Exchange under the symbol GIP, welcomes you to join us on our journey to create a more sustainable future, one renewable energy project at a time. For more information about GIP, please visit www.greenipi.com.
Investor and Analyst Inquiries:
nikolaus kiefer
chief investment officer
(236) 476-3445
investor@greenipi.com
Notes
This news release contains forward-looking statements and/or forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. As used in this news release, the words “estimate,” “will,” “plan,” “anticipate,” “approximately,” “anticipate,” “believe,” and “consider” as they relate to GIP. words such as and similar expressions are used. , or its management, intends to identify such forward-looking statements. Such forward-looking statements reflect GIP’s current views regarding future events and are subject to certain risks, uncertainties and assumptions. Certain information and statements contained in this news release constitute forward-looking statements. This includes, but is not limited to, entering into option agreements and receiving funds. the completion of future ITC transactions and the receipt of funds; Future Energy Park’s financial results and timing.
Many factors could cause GIP’s actual results, performance or achievements to differ materially from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements include, but are not limited to, the effects of general economic conditions in Canada and the United States, changes in laws and regulations, and/or industry conditions, including the adoption of new environmental laws and regulations; It is subject to numerous risks and uncertainties. changes in how they are interpreted and enforced in Canada and the United States; Fluctuations in energy commodity prices. Changes in demand for clean energy provided by GIP. Competition; lack of qualified personnel. obtaining necessary approvals from regulatory authorities in Canada and the United States; our ability to access sufficient capital from internal and external sources; Many of these are beyond GIP’s control. and certain other risks and uncertainties in GIP’s management’s discussion and analysis for the years ended December 31, 2022 and 2021, available in the Company Profile at www.sedarplus.ca. As detailed from time to time in GIP’s public disclosure documents.
The forward-looking statements contained in this news release are made as of the date of this release and, except as expressly required by law, GIP does not provide publicly available updates or revisions to forward-looking statements. disclaims any intention, obligation, or promise to release. Statements contained herein as a result of new information, future events or results, or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
GIP’s management has included the above summary of the assumptions and risks associated with the forward-looking statements provided in this news release in order to provide stockholders with a more complete outlook regarding GIP’s current and future operations. However, such information may not be suitable for other purposes. GIP’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements and, therefore, the events anticipated in the forward-looking statements may actually occur or occur. There is no guarantee that it will. Or if any of them do, how can GIP benefit from it?
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200928.
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