Nexera Energy (TSE:NGY) has released an update.
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Nexera Energy Inc. is set to increase its non-brokered private placement offering up to $775,000, equivalent to 31 million shares at $0.025 each, alongside share purchase warrants. The funds raised will be primarily used by its subsidiary, Production Resources Inc., to develop a cement services branch aimed at plugging and abandoning oil and gas wells, which is expected to save costs and generate additional revenue. The offering, subject to TSX Venture Exchange approval, is anticipated to close by August 16, 2024.
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