TORONTO, Sept. 07, 2018 (GLOBE NEWSWIRE) -- Clear Blue Technologies International Inc. (“Clear Blue”) (TSXV:CBLU), the Smart Off-Grid™ company, is pleased to announce that, subject to regulatory approval, it has retained INFOR Financial Inc. (“INFOR Financial”) to provide market making services to Clear Blue in compliance with the policies and guidelines of the TSX Venture Exchange (the "TSXV") and other applicable legislation.
INFOR Financial will trade common shares of Clear Blue on the TSXV for a period of not less than 6 months with the objective of maintaining a reasonable market and improving the liquidity of Clear Blue’s common shares. INFOR Financial will also introduce Clear Blue to capital market participants and institutional investors that may include investment funds, mutual funds, private capital sources and other potential strategic investors.
Under the terms of the agreement, INFOR Financial will receive a cash payment of approximately $15,000 per month. The agreement is effective as of August 24, 2018 for a period of 12 months and can be terminated by either party on 30 days' notice in writing. There are no performance factors contained in the agreement and INFOR Financial will not receive shares or options as compensation. INFOR Financial and Clear Blue are unrelated and unaffiliated entities, but INFOR Financial and/or its clients may have an interest, directly or indirectly, in the securities of Clear Blue.
Stock Option Grant
Mr. Tjan was awarded 200,000 stock options in respect of his appointment as Chief Financial Officer. The options were granted with an exercise price of $0.62 per share, with a five year term, 50,000 options vesting on the first anniversary of the grant date, and an additional 12,500 options vesting on each of the next quarters over the following three years.
About INFOR Financial Inc.
INFOR Financial Inc. is a leading Canadian independent investment bank offering advice on mergers and acquisitions, capital raises, risk management, private funds and corporate restructurings. Since inception in 2015, INFOR Financial Inc. has consistently been ranked as one of the top independent M&A advisors in Canada by total deal value according to Thomson Reuters.
About Clear Blue Technologies International Inc.
Clear Blue Technologies International, the Smart Off-Grid™ company, was founded on a vision of delivering clean, managed, “wireless power” to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today Clear Blue has thousands of systems under management across 34 countries, including the U.S. and Canada.
Associate, Montieth & Company
Neither the TSX Venture Exchange nor its Regulations 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.