MW Solar, LLC (MW Solar) is pleased to announce that it has signed an agreement ("Agreement") with GEM Global Yield LLC SCS ("GEM"), the Luxembourg based private alternative investment group, to provide MW Solar with a share subscription facility of up to CAD 50 million for a 36-month term following a public listing. The share subscription facility will allow MW Solar to draw down funds by issuing shares of common stock to GEM. MW Solar will control the timing and the maximum size of such drawdowns and has no minimum drawdown obligation.
Randy Wright, Co-Founder stated that “GEM’s commitment provides certainty of capital as we focus toward listing on a national public stock exchange.”
John Maggi, Co-Founder added that “This agreement with GEM greatly positions us for our next stage in development as we grow and expand our entirely green-renewable energy ARC EV ChargingTM network."