Greenlane Renewables Inc. Announces Filing of Preliminary Base Shelf Prospectus
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Burnaby, British Columbia, Canada – July 3, 2019 Greenlane Renewables Inc. (“Greenlane” or the “Company”) (TSXV: GRN) today announced that it has filed a preliminary short form base shelf prospectus (the “Shelf Prospectus”) with the securities commissions in the provinces of British Columbia, Alberta, Manitoba and Ontario.
The Shelf Prospectus, when made final or effective, will allow the Company to offer up to $50,000,000 of warrants, subscription receipts, units or common shares, or any combination thereof, from time to time during the 25-month period that the Shelf Prospectus is effective. The Company filed the Shelf Prospectus to maintain financial strength and flexibility going forward and to satisfy its obligations to qualify the issuance of common shares and warrants on deemed exercise of the special warrants acquired in the Company’s subscription receipt financing completed on May 30, 2019 (the “Financing”) and the special warrants issued to Pressure Technologies plc in connection with the Company’s Qualifying Transaction (the “Qualifying Transaction”) completed on June 3, 2019. The qualification rights of the holders of special warrants acquired in the Financing and the Qualifying Transaction are further described in the Shelf Prospectus which can be found on SEDAR at www.sedar.com.
The specific terms of any future offering will be established in a prospectus supplement to the Shelf Prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities.
About Greenlane Renewables Inc.
Greenlane Renewables is a leading global provider of biogas upgrading systems. Our systems produce clean, renewable natural gas from organic waste sources including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as vehicle fuel. Greenlane is the only biogas upgrading company offering the three main technologies; water wash, pressure swing adsorption, and membrane separation. With over 30 years industry experience, patented proprietary technology, and over 100 biogas upgrading units supplied into 18 countries worldwide, including the world’s first and second largest biogas upgrading facilities, Greenlane is inspired by a commitment to helping waste producers improve their environmental impact, green credentials, and bottom line. For further information, please visit www.greenlanerenewables.com.
For more information please contact:
Incite Capital Markets
Eric Negraeff / Clayton Paradis
Brad Douville, President & CEO, Greenlane Renewables
FORWARD LOOKING INFORMATION
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements, including statements relating to the filing of a final short form base shelf prospectus and potential prospectus supplements, and the amount and terms of any securities to be offered under such prospectus supplements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward‐looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the 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 or has in any way approved or disapproved of the contents of this press release.