Communicators

Highlights

-          ClearVue Technologies Limited has received firm commitments to raise c.$3m (before costs) via a Placement

-          Strong participation including introduction of a number of new professional and sophisticated investors

-          Funds to be used to accelerate commercialisation of ClearVue’s patented solar PV window technology, with focus on its key target markets of North America, Germany and Australia

-          Company now well capitalised to continue execution of its growth plans

August 14, 2020 – Smart building materials company ClearVue Technologies Limited (ASX:CPV) (ClearVue or the Company) is pleased to announce that it has received firm commitments from professional and sophisticated investors to raise approximately $3m (before costs) via a placement (Placement).

Under the Placement 31,998,787 new fully paid ordinary shares (New Shares) are expected to be issued at $0.095 per New Share. The issue price represents a discount of 17.4% to ClearVue’s last close (11 August 2020) of $0.115 per share and a 13.1% discount to the 5-day VWAP of $0.1093 per share prior to the date of this announcement. 27,288,260 of the New Shares are expected to be issued on 24 August 2020 using the Company’s existing placement capacity with 16,672,956 New Shares to be issued pursuant to ASX Listing Rule 7.1 and 10,615,304 Shares to be issued pursuant to ASX Listing Rule 7.1A.

A further, 4,710,527 New Shares (to raise approximately $0.44 million under the Placement) are to be issued to Director related entities and will be subject to shareholder approval to be sought at a General Meeting (Meeting) expected to be held in September 2020 (Director Related Shares).

The New Shares issued under the Placement will rank pari-passu with the existing fully paid ordinary shares in the Company.

In addition, each investor that is issued New Shares under the Placement will, conditional upon the Company’s receipt of shareholder approval at the Meeting , receive one (1) free attaching unlisted option for every two (2) New Shares issued to it, with each option having an exercise price of $0.20 and expiring on or before 31 December 2022 (Attaching Options).

The Director Related Shares and the Attaching Options will be issued shortly after the Meeting, subject to shareholder approval being obtained.

At completion of the Placement, the ClearVue board of Directors is to be restructured with:

-          Mr Sean Rosenberg retiring from his position as Non-Executive Director;

-          Mr Jamie Lyford retiring from his position as Director of the Company but will continue in an expanded Executive capacity for the Company; and

-          Mr Roger Steinepreis will be joining the Board in a Non-Executive capacity.

Argonaut Securities Pty Ltd (www.argonaut.com) acted as the Lead Manager to Placement.

This announcement is authorised for release by the board of ClearVue Technologies Limited:

For further information, please contact:

ClearVue Technologies Limited

Ken Jagger

Chief Executive Officer

ClearVue Technologies Limited

ken@clearvuepv.com

P: +61 8 9482 0500

ClearVue Technologies Limited

PO Box 902, West Perth WA 6872 

+618 9482 0500

info@clearvuepv.com

www.clearvuepv.com

About ClearVue Technologies Limited

ClearVue Technologies Limited (ASX: CPV) is an Australian technology company that operates in the Building Integrated Photovoltaic (BPIV) sector which involves the integration of solar technology into building surfaces, specifically glass and building façades, to provide renewable energy. ClearVue has developed advanced glass technology that aims to preserve glass transparency to maintain building aesthetics whilst generating electricity.

ClearVue’s electricity generating glazing technology is strategically positioned to compliment and make more compelling, the increased use of energy-efficient windows now being regulated in response to global climate change and energy efficiency goals.

Solar PV cells are incorporated around the edges of an Insulated Glass Unit (IGU) used in windows and the lamination interlayer between the glass in the IGU incorporates ClearVue’s patented proprietary nano and micro particles, as well as its spectrally selective coating on the rear external surface of the IGU.

ClearVue’s window technology has application for use in the building and construction and agricultural industries (amongst others).

ClearVue has worked closely with leading experts from the Electron Science Research Institute, Edith Cowan University (ECU) in Perth, Western Australia to develop the technology.

To learn more please visit: www.clearvuepv.com

Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of ClearVue Technologies Limited, are, or may be, forward looking statements.  Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties.  Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.