Clean Energy Transition Inc. expects to complete its non-brokered private placement and concurrent royalty rights offering within the next two weeks, pending final approval from the TSX Venture Exchange.

The financing structure consists of up to 7.5 million units priced at $0.04 per unit alongside a concurrent offering of up to 7.5 million contractual royalty rights at $0.01 apiece. Each private placement unit comprises one common share and one purchase warrant allowing the holder to buy an additional share at $0.08 for a period of two years. That purchase warrant is subject to an accelerated expiry option if the company shares trade at or equal to $0.10 for ten consecutive trading sessions.

The concurrent royalty rights offering entitles holders to receive quarterly distributions in arrears equal to 50% of the cash flow generated by the energy assets of the company's pilot phase, calculated on a pro rata basis relative to total rights issued.

Ahead of the final closing, the TSX Venture Exchange approved three administrative amendments to the royalty right certificate. These changes clarify the pro rata denominator, provide for the carry forward of negative cash flow for distribution, and preserve corporate flexibility to sell, transfer, refinance, securitize or reorganize the pilot portfolio. The company has already received conditional acceptance from the exchange.

The upcoming capital injection supports the company's broader operational portfolio. At the Snow White Project in Ontario, Clean Energy Transition previously commenced initial quartz production and sales, dispatching test samples to domestic and international customers evaluating material for silicon and ferrosilicon alloy manufacturing.

Alongside its silica assets, the company maintains the Aurora Nickel Project in Ontario. That asset contains an indicated mineral resource of 10.5 million tonnes at an average grade of 0.44% nickel across the Aurora North and Aurora South deposits, positioning the company across multiple supply chains aimed at the energy transition.

Read the full announcement: Clean Energy Transition Inc. Provides Update on Private Placement