Braille Energy Systems Inc. Announces Non-Brokered Private Placement

OTTAWA, ON / ACCESSWIRE / May 28, 2021 / Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V:BES) ("BESI" or the "Company"), a global leader in the lithium-ion battery starter market, announced today that it plans to complete a non-brokered private placement of up to 7,812,500 units (the "Units") of the Company at a price of $0.32 per Unit (the "Offering Price") for aggregate gross proceeds to the Company of up to $2,500,000 (the "Offering"). Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant") of the Company. Each whole Warrant shall entitle the holder thereof to purchase one Common Share (a "Warrant Share") at a price of $0.50 per Warrant Share for a period of 24 months from the date of issue.

The Offering is expected to close in tranches, with the first tranche to close as soon as possible subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the "Exchange"). The Units will be sold on a private placement basis to accredited investors pursuant to the "accredited investor" exemption or other available and agreed upon exemptions from prospectus requirements. The Common Shares, Warrants, and Warrant Shares will have a hold period of four months and one day from the date of issue.

"These funds will be used to advance strategic investment opportunities and super charge our value proposition in the ever-changing global lithium battery market." said Lindsay Weatherdon, President and CEO of Braille Energy Systems Inc.

The Company may pay finder's fees equal to 7% of the gross proceeds from a portion of the financing in cash, and 7% finders warrants equal to the number of Units issued as part of the Offering (the "Finder Warrants") in accordance with the policies of the Exchange. Each Finder Warrant entitles the finder to purchase one Unit at the Offering Price for a period of 24 months from closing of the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Braille Energy Systems Inc.

Braille Energy Systems Inc. holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials. For additional information about BESI and Braille Battery products, please visit our website at: www.brailleenergysystemsinc.com or www.braillebattery.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.

Braille Energy Systems Inc. Investor Contacts:

Scott Anderson
Investor Relations
[phone]
[e-mail]

Judith Mazvihwa-MacLean
CFO
[phone]
[e-mail]

SOURCE: Braille Energy Systems Inc.

View source version on accesswire.com:
https://www.accesswire.com/649659/Braille-Energy-Systems-Inc-Announces-Non-Brokered-Private-Placement