Zefiro Methane raises C$3.3 million in private placement

Zefiro Methane Corp. (Cboe Canada: ZEFI) (FSE: Y6B) (OTCQB: ZEFIF) closed a non-brokered private placement raising gross proceeds of approximately C$3,300,050, according to a company statement.

The Toronto-based environmental services company issued 5,077,000 units at C$0.65 per unit. Each unit consists of one common share and one-half of one warrant. The warrants allow holders to purchase additional shares at C$0.80 each for 30 months from the issuance date.

Zefiro plans to use the net proceeds to acquire well-plugging equipment, expand operations into its first international market, and for general working capital. The company also indicated it may apply funds toward strategic acquisition opportunities under evaluation.

In connection with the offering, Zefiro paid finder's fees equal to 6% of gross proceeds and issued 304,620 broker warrants. Each broker warrant is exercisable at C$0.65 per share for 24 months from closing.

The company's subsidiary, Plants & Goodwin, secured new corporate clients within the footprint of a previous Viking equipment acquisition. Three of these clients are publicly traded companies with combined market capitalization exceeding $140 billion.

The units were offered to purchasers outside Canada under an exemption from prospectus requirements available under Section 2.3 of Ontario Securities Commission Rule 72-503. The securities have not been registered under U.S. securities laws.

Zefiro operates as a North American environmental services company focused on asset retirement obligations and methane emissions reduction. The company provides decommissioning services and generates carbon offsets through integrated operations.

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