Revolve Announces Closing of Private Placement for Gross Proceeds of $3 Million

Executive Summary

• Revolve Renewable Power Corp. closed a broker‑driven private placement raising $3,039,973 in gross proceeds.
• The offering consisted of 15,999,857 units at $0.19 per unit, each unit containing one common share and one warrant to purchase an additional share at $0.40 for 24 months.
• Proceeds will be used to advance late‑stage renewable energy projects and for general working capital; the transaction was subject to TSX Venture Exchange approval and included related‑party participation disclosed via early‑warning filings.

Key Details

• Units Issued: 15,999,857 units @ $0.19 each → $3,039,973 gross proceeds.
• Unit Composition: 1 common share + 1 warrant (exercise price $0.40 per share, exercisable for 24 months).
• Agent & Compensation: Beacon Securities Limited acted as agent; received a cash commission of 7% of gross proceeds and compensation options equal to 7% of units sold (reduced to 3.5% for President’s List subscribers).
• Use of Proceeds: Advancement of late‑stage projects in the portfolio and general working capital.
• Closing Conditions: Subject to final TSX Venture Exchange approval; securities subject to a four‑month restricted period ending March 8, 2025.
• Related Party Transactions: Directors Roger Norwich (100,000 units) and Joseph O’Farrell (263,157 units) participated; ownership percentages post‑offering fell below 10% for Norwich and remained under 12% for O’Farrell on a diluted basis. Exemptions relied upon under MI 61‑101.
• Early Warning Disclosure: Ownership changes disclosed per SEDAR+ requirements; reports available on the company’s profile.
• Regulatory Notices: Offering made pursuant to Canadian prospectus exemptions; U.S. securities law exemptions also noted.

Notable Quotes

“This funding round strengthens our balance sheet and positions Revolve well to advance the progress of our late‑stage renewable energy projects.” – Myke Clark, CEO