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EnerPure Inc. Announces Private Placement to Raise $10 Million

Enerpure Inc.
Enerpure Inc.

Winnipeg, MB, Oct. 03, 2022 (GLOBE NEWSWIRE) --


EnerPure Inc. (“EnerPure” or the “Company”), a Manitoba cleantech company, is pleased to announce that it has engaged Ascenta Finance Corp. (AscentaFinance.com), in cooperation with Moneta Advisory Partners (MonetaPartners.ca), to lead a private placement on its behalf pursuant to which EnerPure will issue up to 14,285,714 units of the Company (the “Units”) priced at $0.70 per Unit to raise aggregate gross proceeds of up to $10,000,000. The private placement may be increased at EnerPure’s discretion. Each Unit will be comprised of one common share and one half of one non-transferable share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable at $1.20 for a period expiring the earlier of: (i) 12 months from a public listing liquidity event or, (ii) 10 business days from the date that the Company provides written notice of a sale liquidity event.

Proceeds of the private placement will be used as follows:

Pursue Public Listing on a Canadian Stock Exchange



Existing Regeneration Plant (Barney 1) – Capacity Increases & Tank Farm Upgrades



Planning / Design for Future Regeneration Plants (Barney 2+)



Project & Business Development (Barney 2 - 5)



Staff to support development & growth



Cost of Capital



Working Capital, General & Admin






Securities issued pursuant to the financing will be subject to a statutory 4 month hold period.

Todd Habicht, CEO and Founder commented: The continued progress of EnerPure has positioned us well for a successful capital raise and we are eager to capitalize on this exciting next phase of growth. We are ready to begin rolling out our technology across North America and these funds will allow us to aggressively implement our plans.”

About the Company

EnerPure is a Manitoba cleantech company founded on the idea that waste oil recycling should be accessible to all communities.

Todd Habicht founded the Company as HD-Petroleum in 2009, after recognizing the global potential of a technology brought to him by his grandfather, Barney Habicht. As CEO, Todd turned his grandfather’s prototype into a commercially proven technology, patent-protected in a dozen strategically selected countries around the world. Todd has assembled a strong team with diverse experience and skills to realize the full potential of the technology and transform his grandfather’s idea into a global reality.

HD-Petroleum became EnerPure in 2020 to better reflect the Company’s focus of being a cleantech energy company – a company that recycles waste petroleum into a clean source of fuel and energy while reducing greenhouse gas (GHG) emissions.

EnerPure’s regeneration technology uses a patented three-phase, closed-loop, continuous flow process to convert waste motor oil into a market-ready marine distillate fuel that exceeds the highest fuel standard now required for international ships under the IMO 2020 Fuel Standard. The standardized modular skid package design of the regeneration unit allows for reduced personnel requirements, reduces operational complexity, and allows for a short deployment schedule.

EnerPure is pleased to have received funding and support from Sustainable Development Technology Canada (SDTC). SDTC supports companies attempting to do extraordinary things by investing in innovative small and medium-sized businesses to help them grow into successful companies that help solve some of the world’s most pressing environmental challenges. https://www.sdtc.ca/en/

EnerPure is pleased to have received funding and support from the Government of Canada through the Community Adjustment Fund.

For more information please contact:

EnerPure Inc.

Amar Purewal
Corporate Communications

For investment information please contact:

ASCENTA FINANCE CORP.                                        MONETA ADVISORY PARTNERS
Marshall Farris, Founder & President                        Erin Campbell, Founding Partner
marshall@ascentafinance.com                                erin.campbell@monetapartners.ca
604-837-4774                                                             604-808-6420

Disclosure and Caution

This press release may contain certain disclosures that may constitute "forward-looking statements" within the meaning of Canadian securities legislation. In making the forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.