Revolve announces $2 million private placement to advance renewable projects

Revolve Renewable Power Corp. (TSXV: REVV) (OTCQB: REVVF) entered into an agreement with Beacon Securities Limited for a brokered private placement of up to 10,527,000 units priced at $0.19 per unit, targeting gross proceeds of up to $2,000,130.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional common shares at $0.40 each within 24 months of the offering's closing date.

Beacon Securities received an option to offer an additional 1,579,000 units at the same price for additional proceeds of $300,010. The agent can exercise this option up to 48 hours before closing.

The Vancouver-based renewable energy company stated it will use net proceeds to advance late-stage projects in its portfolio and for working capital purposes. The offering requires regulatory approvals, including from the TSX Venture Exchange.

Securities issued under the offering will be subject to a four-month-plus-one-day statutory hold period under Canadian securities laws. The units will be offered under exemptions from prospectus requirements in Canada and registration requirements in the United States.

Revolve operates as a North American owner, operator and developer of renewable energy projects. The company reports having 12 MW of operating assets under long-term power purchase agreements across Canada and Mexico, covering wind, solar, battery storage and hydro generation.

The company's development portfolio includes utility-scale projects across the United States, Canada and Mexico with combined capacity exceeding 3,000 MW, plus a distributed generation portfolio of more than 140 MW under development.

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