SOURCE: Blue Sphere Corp

Blue Sphere Corp

December 28, 2015 10:31 ET

Blue Sphere Completes Financing

$3,000,000 Debt Financing to Enhance Working Capital Position

CHARLOTTE, NC--(Marketwired - Dec 28, 2015) -  Blue Sphere Corp. (OTCQB: BLSP) (the "Company" or "Blue Sphere"), a clean energy company that acquires, develops, manages and owns waste-to-energy projects globally, announced today that on December 23, 2015 the Company closed on a financing round of three million dollars. The Notes have a face value of three million dollars and after commissions and selling expenses, the Company netted two million six hundred and seventy-two thousand dollars. The terms of the financing will be more particularly defined in an 8K filed with the Securities and Exchange Commission.

The Company worked with the Maxim Group, a New York based investment banking firm to market and close this private placement of Notes which will be used for general business activities. 

This financing at the corporate level will allow the company to further focus on it large pipeline of acquisition targets in Italy as well as further development opportunities in the United States. Blue Sphere has developed an impressive following of project finance partners as well as industry partners. These relationships have come from the Company developing a track record of success in managing the complex process of developing, financing and managing waste-to-energy facilities.

The Company's recently acquired four biogas facilities in Italy and continues to develop Anaerobic Digester facilities in the United States

"We are very pleased to complete this financing round. It allows us to focus on additional acquisition and development opportunities. We are also very happy with the commitment that these investors have made to our Company," said Shlomi Palas, the Company's CEO.

For more detailed information, please refer to the Company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on December 24, 2015.

About Blue Sphere Corporation
Blue Sphere Corporation operates in the fast growing clean-tech sector as a waste-to-energy project developer. Blue Sphere acquires, manages and develops waste-to-energy and other renewable energy projects. The Company is growing to become leader in the global waste-to-energy and renewable energy markets. For further information about Blue Sphere, please visit the Company's website: www.bluespherecorporate.com.

Forward-Looking Statements
This press release contains certain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995), which are subject to risks and uncertainties and may change at any time. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors including, without limitation, (i) uncertainties regarding general economic and market conditions, (ii) uncertainties regarding changes in the Clean tech sector, (iii) uncertainties regarding implementation of the Company's business strategy, and (iv) other risk factors as outlined in the Company's periodic reports, as filed with the U.S. Securities and Exchange Commission. As such, there is no assurance that the initiatives described in this press release will be successfully implemented or meet expectations. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events.

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