![]() ![]() ![]() "By deepening our long-standing relationship with Encore Renewable Energy, we will gain invaluable insights into new geographic markets which we can use to further advance our C&I strategy. "This partnership reflects the progress we’ve steadily been making against our three-pronged strategy for growth," said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. The investment compliments two of the strategy's key pillars - organic growth organic regional growth by expanding relationships with existing Industrial and Utility customers, and investment in companies capable of increasing project pipeline opportunities. ![]() First announced in late 2019, iSun’s growth strategy highlighted the specific steps the Company would take to accelerate the nation’s transition to solar energy across all sectors. ISun’s investment aligns with its previously stated growth objectives. Provides collaboration opportunities across both parties’ project pipelinesĮxtends Encore’s long-term experience as a registered B-Corp to iSun’s ESG initiativesĮnables Encore to expand its geographic reach while advancing innovative clean energy solutions including solar + storage, brownfield redevelopment and dual land-use/agrivoltaics initiativesįurther strengthens the long-standing relationship between two leading innovators in the community-scale clean energy sector. Investment to accelerate expansion of iSun’s Commercial, Industrial and Utility businesses into new geographic markets (NASDAQ: ISUN) (the "Company", or "iSun"), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services and a provider of proprietary electric vehicle charging platforms, today announced it has reached a definitive agreement to make a strategic minority interest equity investment in Encore Renewable Energy, a leading innovator in community-scale clean energy and Top 20 US commercial solar developer. WILLISTON, Vt., November 29, 2021-( BUSINESS WIRE)-iSun, Inc. The offering is expected to close by March 24.New capital will further accelerate both parties’ geographic expansion and expand iSun’s pipeline for continued growth. The company plans to use the proceeds for general corporate and working capital purposes. #Encore energy investor report full#The company is expecting total gross proceeds if the over-allotment option is exercised in full to be about $17.3 million. Each full warrant will entitle the holder to buy one common share at $2 for a period of 24 months following the closing date.Īlso, the company will grant the underwriter an option to acquire an additional 1.5 million units to cover any over-allotments and for market stabilization purposes. Separately, the company said the underwriters have agreed to buy, on a "bought deal" basis, about 9.8 million units at $1.53 per unit for gross proceeds of about $15 million.Įach unit will be comprised of one common share and one half of one common share purchase warrant. This report updates a previous technical report completed in 2012 to conform to current NI 43-101 standards, the company added. In the technical report, the company reported an indicated resource of about 11 million tons at a grade of 0.117% triuranium octoxide, or U3O8, for 25.7 Million pounds of U3O8, and an inferred resource of nearly 3 million tons at a grade of 0.107% U3O8 for an additional 6.4 million pounds of U3O8, both at a 0.02% grade cutoff and GT cutoff of 0.25%. 31, 2020, and an updated technical report in connection with its Crownpoint and Hosta Butte uranium project located in northwestern New Mexico. ( EU), which gained near 10% in Toronto yesterday, overnight Tuesday reported the filing of its annual information form for the year ended Dec. ![]()
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