Claren Energy Corp. (TSXV:CEN) announced a non-brokered private placement of a minimum of 10,000,000 subscription receipts at a price of CAD 0.5 per Subscription Receipt for gross proceeds of CAD 5,000,000 on April 20, 2021. Each Subscription Receipt will entitle the holder thereof to receive one post-Consolidation common share one common share purchase warrant, with each Subscription Receipt Warrant exercisable into one post-Consolidation common share at an exercise price of CAD 0.75 per share for a period of 24 months, for no additional consideration, upon the satisfaction of certain escrow release conditions, including the conditional approval of the Exchange for the Transaction and satisfaction or waiver of all conditions precedent to the Transaction as set out in the Definitive Agreement.