PlasCred Seeks Up to $5 Million to Advance Neos Plastic Recycling Facility

The latest update is out from Cover Technologies ( (TSE:PLAS) ).

PlasCred Circular Innovations Inc. has launched a non-brokered private placement under Canada’s listed issuer financing exemption, aiming to raise up to $5 million through the sale of up to 29,411,765 units at $0.17 each, with each unit consisting of one common share and a warrant exercisable at $0.22 for 36 months. The financing, which is open to investors across most Canadian provinces and expected to close in mid-April subject to regulatory approvals, is intended to fund detailed engineering, permitting, long-lead equipment procurement for the company’s Neos commercial recycling facility, and general working capital, underscoring its push to commercialize its advanced plastic-to-condensate technology.

The units will be freely tradeable in Canada under applicable rules, and the warrants include an early-expiry mechanism if the share price trades above a specified threshold for a sustained period. PlasCred may pay standard cash commissions and issue broker warrants to eligible finders who introduce investors, and it has filed an offering document on SEDAR+ to provide prospective investors with additional disclosure about the offering and its use of proceeds.

More about Cover Technologies

PlasCred Circular Innovations Inc. is an Alberta-based company developing an advanced plastic recycling facility that uses an engineered, modular platform to convert mixed plastic waste into refined hydrocarbon condensate. Its outputs are targeted for use in virgin plastic production, petrochemical feedstock, and upstream energy applications, positioning the firm within the circular economy and low-carbon materials value chain.

Average Trading Volume: 310,100

Technical Sentiment Signal: Hold

Current Market Cap: C$17.78M

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