Vancouver, B.C. – May 22, 2025, - TheNewswire - CleanGo Innovations Inc. (CSE:CGII),(OTC:CLGO.F) ,(FRA:APO2) announces a private placement and debt settlement consisting of the issuance of up to 1,251,988 Common shares of the Company (the "Issuance").  The Issuance will settle debt related to trade accounts payable (the "Debt Settlement") of up to $138,196 owed to an insider creditor (the "Creditor") in consideration for the issuance of up to 394,845 Common shares of the Company (each, a "Settlement Share").  Concurrently the Company will be offering up to 857,143 Common shares of the Company (each, an "Offering Share")through a private placement Unit offering (the "Private Offering") to qualified existing and new investors. The Units are composed of one common shares and one-half share purchase warrant. Each Whole warrant (the “Warrants”) are exercisable for a period of 24 months at a price of $0.50.  Both Settlement Shares and Offering units (together the “Securities”) will be issued at a price of $0.35 in accordance with the policies of the Canadian Securities Exchange (the "CSE").  All Securities, if issued, will be subject to a four-month and one-day hold period. Closing of the Issuance is subject to certain conditions including the receipt of all necessary regulatory approvals including the approval of the CSE.

Completion of the Issuance by the Company would be in an effort to improve its financial position to support its planned future growth. The Company feels like the Issuance that announced today is an important step towards solidifying Cleango’s balance sheet.  The Issuance not only solidifies the financial position, it also gives both existing investors and new investors the ability to participate at the same terms available to the creditor participating in the Issuance.

The Creditor is an insider and CEO of the Company. No new control person of the Company will be created as a result of the Issuance. The Company intends to rely upon certain exemptions from the valuation and security holder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") and will provide full details in any closing press release.

About CleanGo Innovations

CleanGo Innovations Inc. is an international, publicly traded company that specializes in the development of early-staged, green, non-toxic and sustainable products used in retail, commercial and industrial applications.

 

The company is proud of its suite of proprietary, Green Seal Certified non-toxic green products that are Health Canada approved to claim 99.9% disinfecting of viruses and bacteria on a hard surface. CleanGo’s portfolio is proud to be a part of Cruelty Free / Leaping Bunny as a certified product while being both family and pet safe. It is CleanGo’s mission to create the world’s leading non-toxic, green solutions for the worlds cleaning problems.

 

CleanGo Innovation’s experienced team brings new ideas and innovation based on science to find solutions to the problems of current world we live in. Customers rely on quality, nontoxic products to keep their homes clean and their loved ones safe.

 

On behalf of the CEO & Board of Directors

Anthony Sarvucci
Chief Executive Officer
CleanGo Innovations Inc.

For More information Contact:

info@cleangogreengo.com

Phone 1 346 202 6202

 

Forward-looking Information

This news release may contain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. Forward-looking statements can often be identified by words such as “will”, “plans”, “expects”, “may”, “intends”, “anticipates”, “believes”, proposes” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Actual results could differ from those projected in any forward-looking statements due to numerous factors, including risks and uncertainties relating to general economic, market or business conditions or changes in laws, regulations and policies affecting the Company’s operations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. Any forward-looking statements included in this news release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.