EarthRenew Announces Private Placement Financing

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TORONTO, May 20, 2021 (GLOBE NEWSWIRE) — EarthRenew Inc. (“ EarthRenew ” or the “ Company ”) (CSE: ERTH; OTCQB: VVIVF) is pleased to announce that it intends to complete a best efforts non-brokered private placement financing of up to 1,714,286 units (each, a “ Unit ”) at a price of $0.35 per Unit for gross proceeds of up to $600,000 (the “ Offering ”). Each Unit will consist of one common share of the Company (each, a “ Common Share ”) and one-half of one Common Share purchase warrant (each whole warrant, a “ Warrant ”). Each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of $0.475 for a period of 36 months from issuance.

Closing of the Offering is expected to occur on or about June 2, 2021. All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one day. Completion of the Offering is subject to a number of conditions, including without limitation, receipt of approval of the Canadian Securities Exchange (the “ CSE ”), if applicable. Finder’s fees may be paid to eligible finders in accordance with the policies of the CSE consisting of a cash commission equal to up to 7% of the gross proceeds raised under the Offering and finder warrants (“ Finder Warrants ”) in an amount equal to up to 7% of the number of Units sold pursuant to the Offering. Each Finder Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.475 for a period of 36 months following the closing date of the Offering. The Company intends to use the net proceeds of the Offering for expanding the fertilizer production capacity of existing facilities and working capital purposes.

About EarthRenew

EarthRenew’s mission is to support a farm system that puts healthy soils and grower profitability back on the table. Using circular economic principles of upcycling waste products into high-value agronomic inputs, we are building an innovative platform of soil health products to establish EarthRenew as a key player in the regenerative agriculture space. We strive to be a driving part of this movement by offering growers natural fertilizer alternatives that feed the soil to strengthen the earth’s ability to restore itself while growing healthy plants. EarthRenew benefits from multiple revenue streams including, primarily, the sale of regenerative fertilizers, but also enjoys secondary revenue from generating power and selling surplus electricity.

For further information, please visit our website at www.earthrenew.ca or contact:

Keith Driver
CEO of EarthRenew
+1 (403) 860-8623
Email: kdriver@earthrenew.ca

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