BluSky Carbon Secures $1 Million in Convertible Debenture Financing

BluSky Carbon Inc., a player in the carbon removal clean technology sector, has announced its intention to finalize a private placement of convertible debentures, targeting $1 million in gross proceeds. Each unit, priced at $0.30, includes $1,000 principal unsecured debenture, carrying an annual interest rate of 12%, payable quarterly. These debentures mature in 24 months, with conversion into common shares available at $0.30 per share.

The raised funds are allocated for general corporate purposes. BluSky will discontinue its earlier plan for a public offering aimed at raising $3 million. The securities are not registered under U.S. laws, limiting their offer and sale in the United States.