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Clear Vitality Applied sciences, Inc. Proclaims Conversion of $1.95 Million Notes Payable to Fairness -November 15, 2023 at 05:29 pm EST

Clear Vitality Applied sciences, Inc. Proclaims Conversion of .95 Million Notes Payable to Fairness -November 15, 2023 at 05:29 pm EST


  • Monetary Structuring to Improve Useful resource Administration and Strengthen Lengthy-Time period Partnerships
  • Notes Conversion Enhances CETY’s Monetary Flexibility, Eliminates Money Redemption Mandate, and Most well-liked Stockholders Will Obtain a 15% Dividend

COSTA MESA, CA., Nov. 15, 2023 (GLOBE NEWSWIRE) — Clear Vitality Applied sciences, Inc. (NASDAQ: CETY) (“CETY” or the “Firm”), a rising chief in clear power options, at the moment introduced a key monetary structuring, changing $1.95 million notes (the “Notes”) with Mast Hill Fund, L.P. (“Mast Hill”) from legal responsibility to fairness. This strategic shift enhances CETY’s monetary flexibility and strengthens long-term partnerships.

Key Highlights of the Fairness Conversion:

  • Non-Necessary Redemption in Money: The popular shares in change for the excellent balances beneath the Notes don’t mandate redemption in money, offering CETY with elevated flexibility in managing its monetary sources. This function permits the Firm to allocate funds extra effectively, supporting strategic initiatives and progress alternatives.
  • Variable Conversion: The conversion mechanism incorporates a variable construction, aligning the pursuits of traders with the Firm’s efficiency. This dynamic conversion function displays CETY’s dedication to shareholder worth and ensures that conversions are based mostly on prevailing market circumstances.
  • 15% Dividend for the Transformed Class of Inventory: Most well-liked stockholders benefiting from the conversion will obtain a 15% dividend, which was initially stipulated as a part of the unique notes. This dividend underscores CETY’s dedication to delivering worth to its traders and supplies a gorgeous incentive for long-term funding. The transformed securities will probably be topic to customary switch restrictions.

Mast Hill, a key stakeholder, is taken into account a long-term accomplice of CETY, and this strategic transfer displays the dedication to nurturing and enhancing this valued relationship. The Firm values Mast Hill’s partnership immensely and appears ahead to continued collaboration in reaching mutual success.

Kam Mahdi, CEO at CETY, commented “We consider that the conversion of the Notes is a strategic transfer that aligns with our long-term imaginative and prescient for sustainable progress. This determination not solely strengthens our monetary place but in addition displays our dedication to creating worth for our shareholders and companions.”

About Clear Vitality Applied sciences, Inc. (CETY)

Headquartered in Costa Mesa, California, Clear Vitality Applied sciences, Inc. (CETY) is a rising chief within the zero-emission revolution by providing eco-friendly inexperienced power options, clear power fuels and different electrical energy for small and mid-sized tasks in North America, Europe, and Asia. We ship energy from warmth and biomass with zero emission and low price. The Firm’s principal merchandise are Waste Warmth Restoration Options utilizing our patented Clear CycleTM generator to create electrical energy. Waste to Vitality Options convert waste merchandise created in manufacturing, agriculture, wastewater remedy vegetation and different industries to electrical energy and BioChar. Engineering, Consulting and Mission Administration Options present experience and expertise in creating clear power tasks for municipal and industrial prospects and Engineering, Procurement and Development (EPC) firms. Clear Vitality Applied sciences (H.Okay.) Restricted (CETY HK), our wholly owned subsidiary manages our pure gasoline buying and selling operations in China to supply and provide pure gasoline to industries and municipalities situated in China.

CETY’s widespread inventory is presently traded on the Nasdaq Capital Market beneath the image CETY. For extra info, go to www.cetyinc.com. 

SAFE HARBOR STATEMENT

This information launch might embody forward-looking statements. These statements are made beneath the “Protected Harbor” provisions of america Personal Securities Litigation Reform Act of 1995 and contain dangers and uncertainties which may trigger precise outcomes to vary materially from these within the forward-looking statements contained herein. These forward-looking statements may be recognized by terminology corresponding to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Statements that aren’t historic info, together with statements in regards to the Firm’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. A variety of components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the Firm’s objectives and techniques; enlargement plans; future enterprise improvement, monetary situation and outcomes of operations; the developments in, and dimension of, biomass renewable power market; the Firm’s expectations concerning its relationships with prospects, suppliers, third-party service suppliers, strategic companions and different stakeholders; common financial and enterprise circumstances; and assumptions underlying or associated to any of the foregoing. Additional info concerning these and different dangers is included within the Firm’s filings with the SEC. All info supplied on this press launch is as of the date of this press launch, and the Firm doesn’t undertake any obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.

Investor Relations Contact:
[email protected]

Contact:
Clear Vitality Applied sciences, Inc.
2990 Redhill Avenue
Costa Mesa, CA 92626
949.273.4990 most important
949.273.4990 fax
www.cetyinc.com

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Supply: Clear Vitality Applied sciences, Inc.

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