Three Sixty Announces Amendment to Non-Brokered Private Placement Terms
May 15 2023 - 7:30AM
Three Sixty Solar Ltd. (formerly Liberty One Lithium Corp.)
(the
"Company")
(VSOL: NEO) announces that it is amending the terms of its
non-brokered private placement (the "
Offering")
announced in its news release on May 12, 2023. The amended Offering
will be for a minimum of 1,666,666 and a maximum of 3,333,333 units
of the Company ("
Units") at a price of $0.60 per
Unit, for aggregate gross proceeds of a minimum of $1,000,000 up to
a maximum of $2,000,000.
Each Unit will be comprised of one common share
in the capital of the Company (a "Share") and one
Share purchase warrant (a "Warrant"). Each Warrant
will entitle the holder thereof to acquire one additional share (a
"Warrant Share") at a price of $0.75 per Warrant
Share for a period of 24 months from the closing date of the
Offering.
In connection with the Offering, the Company may
pay certain finders a cash commission equal to 7% of the aggregate
gross proceeds raised from those purchasers introduced by such
finder.
The Company intends to use the proceeds raised
from the Offering for the procurement of sale of first commercial
tower, vertical solar tower IP registration, research and
development on second generation tower, business development and
marketing, and general corporate purposes. The Offering may close
in tranches. The Offering is expected to close on or before May 26,
2023, or such earlier or later date that the Company may determine.
The Offering is subject to certain conditions including, but not
limited to, receipt of all necessary approvals including the
approval of the Cboe Canada.
The Offering is being completed pursuant to the
listed issuer financing exemption under Part 5A of National
Instrument 45-106 Prospectus Exemptions and therefore the
securities issued in the Offering will not be subject to a hold
period in accordance with applicable Canadian securities laws.
There will be an offering document related to the Offering that
will be available under the Company's profile at www.sedar.com and
at https://threesixtysolar.com/. Prospective investors should read
this offering document before making an investment decision.
The securities issued pursuant to the Offering
have not, nor will they be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of,
U.S. persons in the absence of U.S. registration or an applicable
exemption from the U.S. registration requirements. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in
the United States or in any other jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Three Sixty Solar
Ltd.
Three Sixty Solar Ltd. is an all-Canadian
enterprise which focuses on solar equipment supply to the global
market. The company’s premier product line is the patent pending
SVS series commercial solar tower. According to Statistics MRC, the
solar farm sector is set to grow to around $296 billion by 2028.
Three Sixty Solar’s unique tower concept is a high density, clean
energy solution that uses up to 90% less land space than
conventional solar farms and can co-locate adjacent to homes,
retail, agriculture, and industry, thus minimizing line loss and
maximizing energy delivery in places where renewables have been
difficult to install until now. In multi-tower applications,
developers can utilize the spaces between towers to better leverage
land assets through additional revenue generating activities.
Designed to withstand major instances of extreme weather, Three
Sixty Solar offers a clean energy solution with minimal
environmental and habitat impact. Sign up to stay informed with
news alerts from Three Sixty.
On behalf of the Board of Directors,Three Sixty
Solar Ltd.
“Brian Roth”
Brian RothChief Executive Officer and Director
Forward-Looking Information
Disclaimer
Certain statements included in this news release
constitute forward-looking information or statements (collectively,
“forward-looking statements”), including those identified by the
expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”,
“intend”, “may”, “should” and similar expressions to the extent
they relate to the Company or its management. The forward-looking
statements are not historical facts but reflect current
expectations regarding future results or events. This news release
contains forward looking statements. These forward-looking
statements are based on current expectations and various estimates,
factors and assumptions and involve known and unknown risks,
uncertainties and other factors. Any statements about the Company’s
business plans and use of proceeds, the Company’s ability to
receive necessary regulatory and stock exchange approvals in
connection therewith and the terms associated therewith.
Forward-looking statements are not guarantees of future performance
and involve risks, uncertainties and assumptions which are
difficult to predict. Such statements and information are based on
numerous assumptions regarding present and future business
strategies and the environment in which the Company will operate in
the future, including, anticipated costs, and the ability to
achieve its goals.
Factors that could cause the actual results to
differ materially from those in the forward-looking statements
include, failure to obtain regulatory approval, the continued
availability of capital and financing, and general economic, market
or business conditions, changes in legislation and regulations,
increase in operating costs, equipment failures, failure of
counterparties to perform their contractual obligations,
litigation, the loss of key directors, employees, advisors or
consultants and fees charged by service providers. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement. These statements should not be read
as guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from those implied by such statements.
Although such statements are based on management's reasonable
assumptions, there can be no assurance that the listing of the
common shares of the Company upon completion of the Offering will
occur. The Company assumes no responsibility to update or revise
forward-looking information to reflect new events or circumstances
unless required by law. Readers should not place undue reliance on
the Company’s forward-looking statements.
Neither the Cboe Canada nor its Market Regulator
(as that term is defined in policies of Cboe Canada) accepts
responsibility for the adequacy or accuracy of this news
release.
CONTACT INFORMATION
Three Sixty Solar Ltd.Investor RelationsEmail:
investors@threesixtysolar.comTelephone: +1 (778) 383-6743
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