Warrant and Options Exercise proceeds Total $1.89M
TORONTO, ON / ACCESSWIRE / February 15, 2022 / Toronto based CO2 GRO Inc. ("CO2 GRO" or the "Company") (TSXV: GROW, OTCQB: BLONF, Frankfurt: 4021) announces the exercise of 11,488,695 warrants at $0.15 per warrant, raising proceeds of $1,723,304. Also, 1,022,285 options that ranged from $0.135 to $0.18 per option have been exercised for additional proceeds of $161,865 for total proceeds of $1,885,619.
The 12,510,980 common shares being issued are not subject to a hold period. After the issuance, the Company will have common shares of 97,326,698 issued and outstanding with 101,952,804, fully-diluted.
CO2 GRO will use the $1.89M in proceeds to increase business development activities; increasing its Ag Industrial partnerships and, expand its North America sales force and for working capital and general corporate purposes.
John Archibald, CEO Of CO2 GRO commented "We are honored that Ospraie Ag Sciences exercised all of their 10M warrants after initially investing in CO2 GRO eighteen months ago. This is an endorsement from a Strategic Investor that our business plan is on the right track taking CO2 GRO's sustainable technology into the global protected ag, floriculture and other plant and tree seedling marketplaces. We believe our business plan will lead to increasing sales and revenues going forward and our People, Planet and Profits focus as well as adherence to ESG principles will generate superior returns to shareholders over the long term."
About CO2 GRO Inc. CO2 GRO Inc.
CO2 GRO's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global 600 billion square foot protected agriculture industry (Cuesta Roble 2019). We create a dissolved CO2 solution that when misted onto plants provides growers that cannot gas with CO2 the opportunity to increase plant yields by up to 30% and gross profits by up to 100%. Applying dissolved CO2 also suppressed the development of pathogens such as E.coli and powdery mildew, helping to reduce crop losses. CO2 GRO's CO2 Delivery Solutions™ is protected by a suite of patents and patents pending.
The worldwide market for CO2 GRO's disruptive CO2 Delivery Solutions™ technology is primarily the 50 billion square feet of greenhouses and 550 billion square feet of protected agriculture facilities). Growers can maximize revenue and profits using our systems due to their low fixed and variable costs and ease of systems installation.
CO2 GRO's management is rapidly expanding its international marketing partner relationships into Mexico, Spain, the EU, the UK, South Africa, the Middle East, South East Asia and Latin America as well as in its North American base.
CO2 GRO is committed to good Environment, Social and Governance (ES&G) policy and practices. We are an equal opportunity employer of choice and opportunity.
Our mission is to accelerate the growth of all value plants safely, economically, naturally and sustainably using our patented advanced CO2 Delivery Solutions™ while accreting value to our customers, stakeholders and shareholders.
This press release contains statements which constitute "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities. Forward‐ looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions and include information regarding: statements regarding the future direction of the Company; the ability of the Company to successfully achieve its business and financial objectives; plans for expansion and the ability of the Company to obtain, develop and foster its business relationships; and expectations for other economic, business, and/or competitive factors. Investors are cautioned that forward‐looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates that management considered reasonable at the date the statements are made. Such assumptions include but are not limited to: general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and technology offered by the Company's competitors; and that good relationships with business partners will be maintained. Although the Company believes that the expectations reflected in such forward‐looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward‐looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; in particular, in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; the biotechnology industry and the greenhouse growers market are highly competitive, and technical advances in the industry will impact the success of the Company, and other risks described in the Company's filings that are available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward‐looking information except as otherwise required by applicable law.
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.
For more information, please visit www.co2gro.ca
SOURCE: CO2 Gro Inc.