Anaergia Completes Initial Phase of Strategic Investment Closure

Anaergia Inc. (TSX: ANRG), a global leader in renewable fuels, is excited to announce the successful closure of the first phase of the strategic equity investment of C$40.8 million from Marny Investissement SA (“Marny”). This initial tranche, amounting to C$12.5 million, involved the issuance of 31,250,000 units (Units) of the Company. Each Unit comprises one subordinate voting share and 1/5 of a subordinate voting share purchase warrant, with each warrant allowing the holder to acquire an additional share at an exercise price of C$0.80 within three years.

Following the agreement amendment, the closing of the first tranche led to the appointment of Ronen Kantor, a Marny nominee, to the Company’s board of directors, filling the vacancy left by Alan Viterbi, to whom the Company extends sincere thanks for his dedicated service.

The remaining portion of the Strategic Investment is anticipated to conclude as follows: the second tranche of 34,000,000 Units, generating C$13.6 million, is set to close by March 15, 2024, and the third tranche of 36,750,000 Units, yielding C$14.7 million, is also expected to close by the same date. Both tranches’ closures are contingent on customary conditions.

For further details on the Strategic Investment, please refer to the Company’s news releases dated December 18, 2023, January 2, 2024, January 19, 2024, and January 25, 2024.

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