Aida Minerals Provides Financing Clean Energy Initiatives and Corporate Update

Aida Minerals (CSE:AMC) has announced an update on its financing and development initiatives on clean energy.
As quoted in the press release:

Aida’s clean energy projects focus on the application of world leading technologies transforming waste and coal to produce environmentally clean energy sources.

Convertible Preferred Share Offering

Aida is pleased to announce an offering of 1,000,000 units at $1.00 per unit and each unit consisting of one Preferred Share and one Common Share purchase warrant. Each two warrants are exercisable into one common share at an exercise price of $2.00 per share for a term of two years from date of issuance. Dividend on the preferred shares is 15% per annum payable annually after the first anniversary from issuance, and the dividends may be converted at the same conversion rate of the preferred shares. Use of proceeds includes purchase of a redeemable/convertible debenture of Trilennium Solutions Ltd. (“Trilennium”) with a face value of $1,000,000 yielding 25% interest and secured by real estate assets pursuant to a General Security Agreement provided by Light Energy Dynamics Ltd. a private real estate development company and Trilennium investee. Trilennium is a private company consolidator of software and service suppliers to the Social Purpose sector utilizing its unique methodology branded CMR™ — Competency — Market — Relationships.

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