Delta CleanTech acquires clean energy business assets of HTC Extraction Systems and completes non-brokered private placement

On January 27, 2021, HTC Extraction Systems ("HTC") (TSXV: HTC) (OTCQB: HTPRF) completed the previously announced sale of the assets (the "Purchase and Sale") of its clean energy business to its newly incorporated subsidiary, Delta CleanTech Inc. ("Delta") for an aggregate purchase price of $4 million.

The assets consist of all of the intellectual property, certain agreements for the operation of HTC's CO2 capture systems and reclaimer systems, and other assets comprising HTC's former clean energy division. 

Concurrently with the Purchase and Sale, Delta completed a non-brokered private placement of its common shares for gross proceeds of $7,760,000.

Peter Simeon and Sharagim Habibi of Gowling WLG advised Delta with respect to this transaction.