Zefiro Methane Corp (Cboe: ZEFI) (OTCQB: ZEFIF), after Thursday’s closing bell, reported that it completed a C$4.5 million equity financing from two European-based strategic investors. The capital raise was done at C$0.48 per share, with Zefiro issuing 9.375 million company shares.
Zefiro Methane stock closed 7% higher at C$0.59 on Friday.
The company noted that it intends to use the net proceeds of offering for “near term accretive acquisitions.” It will also be for working capital to grow its Plants & Goodwin subsidiary.
The equity financing was the first such raise since Zefiro’s Initial Public Offering two years ago, CEO Catherine Flax said in a statement.
Each unit of the offering consisted of one company common share plus one common share purchase warrant. The warrant entitles the holder to purchase a common share at an exercise price of C$0.60 per share for a period of 24 months.
Zefiro Methane is an environmental services firm that cleans up and plugs end of life oil and gas wells. It also specializes in methane abatement, which involves reducing or preventing the release of methane gas into the atmosphere.
For Q3 2026, Zefiro expects revenue of approximately US$11.0 million, an increase of more than 50% year over year. And, the company said recently it is on target to achieve a US$40.0 million revenue run rate for fiscal 2026.
Shares of Zefiro Methane have surged about 64% year to date. The company has a market cap of approximately C$59 million.
Read more about Zefiro Methane here
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