CleanGo raises C$719,716 in private placement
What's the deal? CleanGoDealroom has a profile for this one. Try Dealroom → (CSE: CGII) has closed a non-brokered private placement raising gross proceeds of C$719,716.80. The company sold 934,696 units at C$0.77 each, with each unit comprising one common share and half of a transferable warrant.
The terms: Each whole warrant lets the holder buy an additional share at C$0.85 for two years from issuance. The securities carry a statutory hold period of four months and one day.
What's the endgame? CleanGo makes green, non-toxic and sustainable cleaning products for retail, commercial, and industrial use. It plans to use the net proceeds for general working capital and corporate purposes.
What's next? The offering remains subject to final approval by the Canadian Securities Exchange.
The signal: The round is a modest one — roughly US$517,647 — landing in the bottom tier of funding deals by size. For a small-cap issuer like CleanGo, a private placement of this scale is a routine top-up of working capital rather than a growth bet.
Read more: Stockwatch
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