Land Betterment Corporation Secures Initial Funding of its Impact Notes
April 13, 2021 at 05:25 AM EDT
Growth capital will support job creation and sustainable economic development throughout Central Appalachian and Midwest communities
SOURCE: Land Betterment CorporationDESCRIPTION:
FISHERS, Ind., April 13, 2021 /3BL Media / Land Betterment Corporation (“Land Betterment” or the “Company”), an environmental solutions company fostering positive impact through upcycling former coal mining and industrial sites to create sustainable community development and job creation, today announced the Company has successfully secured a commitment of $3.0 million of funding under its Impact Note.
The three-year term Impact Notes carry an 8% annual interest rate which compounds quarterly. The Impact Notes have the ability to convert into Common Stock of Land Betterment at the lesser of $3.50 per share of Common Stock, or 75% of the share price offering pursuant to an initial public offering of the Company. The Purchaser of the Impact Notes will also receive warrants in the amount of 10% of the Purchaser’s subscription amount. Each warrant will have an exercise price of $5.00 per share of Land Betterment Common Stock and subject to certain adjustments.
Land Betterment has the ability to extend and expand the Impact Note offering to up to a total of $10 million to accredited investors. The Company is using the capital raised to further grow its Environmental Solutions division and other sustainable business pillars through the purchasing of equipment, hiring of staff and commercialization of its business lines.
Mark Jensen, Land Betterment Executive Chairmen stated, “This capital will be used to directly create jobs in communities that need them the most, by focusing on fostering forward-looking industries like Ag-Tech, sustainable housing and environmental services, and that actually meet the skillset and desire of the local workforce. We are committed to putting displaced coal miners back to work while bringing economic diversification and innovation that match the local needs.”
To learn more about Land Betterment and its impact investment opportunities, visit: https://www.landbetterment.com/land-betterment-impact-note
About Land Betterment Corporation
Land Betterment Corporation, an Indiana Benefit Corporation and Pending B-Corp, is an environmental solutions company focused on fostering a positive impact through upcycling former coal mining sites to create sustainable community development and job creation. The Company utilizes a complete solution-based lifecycle program to restore and rehabilitate the environment and revitalize communities in need of change and opportunity. Land Betterment accomplishes this by identifying un-reclaimed, run-down and neglected coal mining sites, fixing the environment through reclamation and remediation, and then repurposing the land to support a sustainable business that serves the community. Land Betterment firmly believes that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet. For more information visit landbetterment.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company’s actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond Land Betterment Corporation’s control. The words “believes”, “may”, “will”, “should”, “would”, “could”, “continue”, “seeks”, “anticipates”, “plans”, “expects”, “intends”, “estimates”, or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
Source: Land Betterment Corporation
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KEYWORDS: Land Betterment, Impact Notes