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AdvEn Inc. (formerly Nano Innovations Inc.) closes USD$1.5 million with Spartan Securities
Calgary, Alberta — January 15, 2022 — AdvEn Inc. (formerly Nano Innovations Inc.) (“AdvEn”) closed its second bridge financing round with Spartan Securities for gross proceeds of USD$1.5 million by way of additional senior secured convertible debentures with an accompanying warrant for 10 years (“Notes”).
The Notes mature on the earlier of January 15, 2023 or upon the occurrence of the public offering of common stock of not less than USD$50 million, resulting in the listing for trading of the common stock on the NYSE American, the NASDAQ Capital Market, the NASDAQ Global Market, the NASDAQ Global Select Market or the New York Stock Exchange (“Liquidity Event”). The Notes may be extended if a Liquidity Event is in process and contemplated. The conversion price of the Notes is discounted from the share price for common shares at the Liquidity Event by 35%. The Notes bear interest at 10% per annum, payable upon maturity and increasing to 15% if no Liquidity Event is in process or contemplated. The Notes are senior secured notes with specific security interest over all of the assets of the Company excluding the intellectual property.
The Notes have an accompanying warrant for 50% of the face value of the Notes at the Liquidity Event price and are valid for 10 years.
“The Notes bring additional capital for AdvEn to complete construction of its manufacturing, research and pilot plant in Nisku, Alberta,” said Yanguang Yuan, Chief Executive Officer. “Each capital injection brings us one step closer to fully commercializing our technologies.”
About Us
AdvEn Inc. (formerly Nano Innovations Inc.), through its wholly owned subsidiary AdvEn Industries Inc., develops and commercializes carbon-centric advanced technologies converting petroleum refinery residues into non-combustible products for energy and environmental applications. AdvEn’s 36,000 ft2 manufacturing plant and research facility in Nisku, Alberta, Canada will initially produce up to 400 metric tons per year of advanced super activated carbon (“ASAC”) before scaling to 1,200 metric tons per year; and is also piloting the Company’s patented dry electrode super adhesive coatings (“ESAC”) process. Both ASAC and ESAC provide superior technical performance, reduced GHG emission and energy consumption with excellent cost efficiency.
AdvEn, ASAC and ESAC are trademarks of AdvEn in Canada and the United States.
Calgary, Alberta — July 15, 2024 — AdvEn Inc. (“AdvEn”) is pleased to announce the appointment of Dr. Yanguang Yuan, as the Company’s Chief Executive Officer (“CEO”). “Dr. Yuan was the founding CEO of AdvEn Inc. and had stepped aside in July 2023 as the Company progressed with plant construction and its initial public offering. […]
Calgary, Alberta — July 15, 2024 — AdvEn Inc. (“AdvEn”) is pleased to announce the appointment of Donald (“Don”) Nicholson to its esteemed Board of Directors, succeeding Eloner Habtezghi. Don brings a wealth of experience in corporate leadership and governance coupled with his extensive engineering career in overseeing major projects across multiple industries. Mr. Nicholson […]
Calgary, Alberta, July 12, 2024 — AdvEn Inc., a pioneering Canadian producer of advanced super activated carbon (ASAC) products from petroleum refining residues, announced today that it has filed a F-1 registration statement with the U.S. Securities and Exchange Commission (SEC) in connection with a proposed initial public offering (IPO) of its common shares. The […]
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December 6, 2023 (Calgary, AB) –AdvEn, a leading material technology and manufacturing company, has inked a significant Contribution Agreement with Emissions Reduction Alberta (ERA), securing $2 million in funding for its pioneering project, "Pilot Production of Electrodes for Energy Storage Systems on Industrial-scale Equipment via a Transformative Dry Process.”
