NU E Power Corp. Announces Conversion of Promissory Notes into Convertible Debentures

Rhea-AI Summary

Nu E Power Corp. (OTC:NUEPF) has announced the conversion of existing promissory notes into unsecured convertible debentures. The conversion, including accrued interest, totals $403,153.37. The debentures will mature on June 23, 2026, bearing a 6.0% annual interest rate payable at maturity.

Debenture holders can convert the principal amount into common shares at CAD$0.15 per share, potentially resulting in up to 2,687,690 common shares. The debentures and underlying shares are subject to a four-month plus one-day statutory hold period.

Positive

• Successful conversion of debt instruments demonstrates creditor confidence
• Extended maturity date to June 2026 provides improved debt timeline
• 6.0% interest rate is relatively moderate in current market conditions

Negative

• Potential dilution of up to 2,687,690 common shares if fully converted
• Additional interest payment obligations of 6.0% annually on $403,153.37

Calgary, Alberta--(Newsfile Corp. - June 26, 2025) - Nu E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (the "Company" or "Nu E") is pleased to announce that it has closed a conversion of existing promissory notes, together with accrued interest, totalling $403,153.37 into, unsecured convertible debentures ("Debentures") with an aggregate principal amount of $403,153.37.

The Debentures will mature on June 23, 2026 (the "Maturity Date") and each Debenture will bear simple interest at 6.0% per annum, calculated and paid on the Maturity Date in cash.

Holders of the Debentures will be entitled to convert the principal amount of the Debentures at any time on or prior to the Maturity Date into common shares of the Company ("Common Shares") at a conversion price of CAD$0.15 per Common Share (the "Conversion Price"), subject to standard adjustments for up to 2,687,690 Common Shares.

The Debentures (including the underlying Common Shares) are subject to a statutory hold period of four months plus one day following the closing date of the Offering.

About Nu E Power Corp.

Nu E Power Corp. is a green energy company focused on the developing, construction, and operating clean and renewable energy infrastructure across North America. The Company has a partnership with Low Carbon Canada Solar Limited, a subsidiary of the UK based renewables major, Low Carbon Investment Management Ltd. To facilitate non-dilutive investment into the Company with the goal of developing up to 2GW of renewable energy projects in Canada by 2030.

Contact Information

For more information, please contact:

Investor Relations
E-mail: info@nu-ecorp.com

John Newman, Chief Financial Officer
E-mail: john@nu-ecorp.com

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor ‎disapproved of the contents of this press release.‎

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256883

FAQ

What is the total value of Nu E Power Corp's (NUEPF) convertible debentures announced in June 2025?

The total value of the convertible debentures is $403,153.37, converted from existing promissory notes including accrued interest.

What is the conversion price for Nu E Power Corp's (NUEPF) new convertible debentures?

The conversion price is set at CAD$0.15 per common share, subject to standard adjustments.

When do Nu E Power Corp's (NUEPF) June 2025 convertible debentures mature?

The convertible debentures will mature on June 23, 2026.

What is the interest rate on Nu E Power's (NUEPF) June 2025 convertible debentures?

The debentures bear a simple interest rate of 6.0% per annum, calculated and paid at maturity in cash.

How many potential common shares could be issued from Nu E Power's (NUEPF) June 2025 convertible debentures?

The debentures could potentially convert into up to 2,687,690 common shares of the company.