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CLEANGO INNOVATIONS INC. Provides an Update on the Previously Mentioned Letter of Intent / Distribution Agreement with the German Distributor and Proposed Private Placement

News Direct
·4 min read

Calgary, Alberta --News Direct-- CleanGo Innovations Inc.

CleanGo Innovations Inc.
CleanGo Innovations Inc.

Vancouver BC – TheNewswire - July 12, 2022  - CleanGo Innovations Inc. (CSE:CGII) (CNSX:CGII.CN)  (OTC:SOFSF) (FRA:APO2) CleanGo Innovations Inc. (“CleanGo” or the “Company) is pleased to announce an update regarding its letter of intent with HAST.

 

In April of this year, CleanGo hosted the HAST management team in Houston, Texas. At these meetings, CleanGo showcased their new 10,000 sq ft Houston facility and the groups discussed the benefits of the new facility to both companies.

 

These discussions prompted further meetings in Hamburg, Germany in June. At this meeting, CleanGo and HAST discussed the terms of an agreement between the two companies, and the parties have now commenced working on a finalized definitive agreement.

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Anthony Sarvucci, CEO of CleanGo, said. “It was our honor to host the team from HAST in Houston, the group is a great fit to our business model as we believe we are to theirs. My recent trip to Hamburg was equally felt, we were able to discuss the product lines that complement our businesses from both sides moving forward and we look forward to a long and fruitful relationship between our two companies” CleanGo Innovations looks forward to sharing the details and clarity of our arrangement in the coming weeks.

 

CleanGo would also like to announce a proposed private placement of up to 750,000 units (“Units”) at a price of $0.40 per Unit for gross proceeds of $300,000 (the “Offering”).  Each Unit consists of one common share in the capital of CleanGo and one-half of one Common Share purchase warrant (the “Warrant”).  Each whole Warrant is entitled to acquire one Common Share at an exercise price of $0.60 for a period of 18 months from issuance.  The Warrants will be subject to an acceleration clause if the trading price of the Common Shares is greater than $0.85 for a period of ten consecutive days.  Proceeds of the Offering will be used for working capital purposes.

     

About CleanGo Innovations

CleanGo Innovations Inc. is an international publicly traded ESG company that is revenue generating and specialized in the development of early staged, green, non-toxic and sustainable technology companies. We provide access to capital, executive management and industry experience to grow our portfolio of companies.

CleanGo Innovations experienced team bring new ideas and innovation based on science to find solutions to the current world we live in, CleanGo products cover a vast array of situations including Retail, Commercial and Industrial Solutions. Customers rely on quality, nontoxic, Green Certified products to keep their homes clean and their loved ones safe. For more information visit our website: https://cleangogreengo.com or www.cleangoinnovations.com

 

On behalf of the CEO & Board of Directors

Anthony SarvucciChief Executive OfficerCleanGo Innovations Inc.anthony@cleangogreengo.com

 

Paul Searle

Investor Relations

1 778 240 7724

 

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information

This news release may contain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. Forward-looking statements can often be identified by words such as “will”, “plans”, “expects”, “may”, “intends”, “anticipates”, “believes”, proposes” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Actual results could differ from those projected in any forward-looking statements due to numerous factors, including risks and uncertainties relating to general economic, market or business conditions or changes in laws, regulations and policies affecting the Company’s operations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. Any forward-looking statements included in this news release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.

 

View source version on newsdirect.com: https://newsdirect.com/news/cleango-innovations-inc-provides-an-update-on-the-previously-mentioned-letter-of-intent-distribution-agreement-with-the-german-distributor-and-proposed-private-placement-541525460