UGE International Ltd.

Canaccord Genuity Acts as Lead Agent to UGE International Ltd. on C$7.4MM Private Placement of Green Bonds

Canaccord Genuity is pleased to announce that on November 28, 2022, UGE International Ltd. (TSX-V: UGE) ("UGE" or the "Company") closed its previously announced private placement of green bonds for gross proceeds of approximately $7.4 million (the “Offering”). The Offering was oversubscribed and upsized from $5 million. The Company intends to utilize the net proceeds of the Offering for the development of solar and energy storage projects of UGE and its subsidiaries.

UGE develops, owns, and operates commercial and community solar projects in the U.S. and strategic markets abroad. The Company’s distributed energy solutions deliver cheaper, cleaner energy to businesses and consumers with no upfront cost. With over 500MW of global experience, UGE works daily to power a more sustainable world.

The Canaccord Genuity team included Jamie Brown, Shane MacLachlan, Peter Walls, and Matt Pearson from Investment Banking, with support from Trina Wang from Equity Capital Markets.