Nexera Energy Inc. is advancing a proposed strategic transformation from oil and gas exploration and production into an industrial manufacturing business focused on end-of-life tire recycling. The Calgary- and San Antonio-based company said it plans to file a Change of Business application with the TSX Venture Exchange and intends to use pyrolysis technology to convert waste tires into component materials. The transition is being pursued alongside efforts to restore full trading, complete overdue financial reporting and restructure the company’s balance sheet. Nexera said it has negotiated with creditors to eliminate substantially all debt through a combination of debt forgiveness and conversion of certain obligations into equity, while the Alberta Securities Commission has granted a partial revocation of an existing cease trade order to allow a private placement of up to $320,000. The company describes tire recycling and resource recovery as the basis for a new scalable industrial platform, although the proposed business transition remains subject to TSX Venture Exchange approval and other regulatory requirements.

Nexera plans change of business into tire recycling

Nexera said its proposed new business would focus on recycling end-of-life tires through pyrolysis, a thermal conversion process that breaks tire material into component products. The company intends to submit a formal Change of Business application to the TSX Venture Exchange as part of the transition.

The move would represent a substantial change from Nexera’s historical activities in oil and gas exploration and production. Management said the company sees waste tire recycling and resource recovery as an opportunity to establish a new industrial growth platform.

Pyrolysis positioned at center of proposed business

The company said the planned tire recycling operation would use pyrolysis technology to process end-of-life tires. Such systems thermally convert tire material under controlled conditions and can generate products including pyrolysis oil, carbon-rich solid material, recovered steel and process gas, depending on plant design and operating conditions.

Nexera did not provide detailed information in the announcement about proposed plant capacity, location, technology supplier, feedstock volumes or product specifications. These elements would therefore remain to be defined as the company advances its proposed change of business.

Company seeks to eliminate substantially all debt

Alongside the tire recycling transition, Nexera is negotiating a major restructuring of its balance sheet. The company said it has reached arrangements with debt holders aimed at eliminating substantially all outstanding debt through debt forgiveness and conversion of certain obligations into common shares.

Any debt converted into equity is expected to be converted at a price of at least $0.05 per share, subject to final agreements and applicable regulatory and TSX Venture Exchange approvals. Management said the restructuring, if completed, would reduce legacy liabilities and provide greater financial flexibility for the company’s next development phase.

ASC grants partial revocation of cease trade order

The Alberta Securities Commission has partially revoked a cease trade order originally issued against Nexera on August 5, 2025. The partial revocation allows the company to conduct a limited private placement to raise up to $320,000.

The original cease trade order resulted from Nexera’s failure to file required annual audited financial statements, management discussion and analysis and certifications for the year ended March 31, 2025. Those documents have since been filed, and the company is now working toward full revocation of the order.

Private placement to fund financial reporting and regulatory work

Nexera proposes to issue up to 21,333,334 units at $0.015 per unit for maximum gross proceeds of $320,000. Each unit would consist of one common share and one warrant allowing the holder to purchase another common share at $0.10 for 24 months.

The company expects to allocate approximately $125,000 to additional audit costs, $135,000 to accounting and financial reporting support, $5,000 to TSX Venture Exchange fees, $30,000 to securities regulator fees and $25,000 to legal and compliance expenses.

Funds intended to support return to full trading

Nexera said the financing is intended primarily to bring its continuous disclosure record fully up to date and cover costs associated with obtaining full revocation of the cease trade order. The company is completing audited financial statements for the year ended March 31, 2026, together with related management discussion and analysis, executive certifications and required oil and gas disclosures.

Shares and warrants issued under the financing will remain subject to the cease trade order until a full revocation is granted. Completion of the placement also remains subject to final approval from the TSX Venture Exchange.

Strategic transition remains subject to regulatory approval

Nexera emphasized that its move into tire recycling has not yet been completed. The Change of Business transaction requires TSX Venture Exchange approval and compliance with other applicable regulatory requirements.

The company also cautioned that its plans include forward-looking statements and that there is no certainty the proposed restructuring, financing, full revocation of the cease trade order or tire recycling transition will be completed as currently envisioned.

Waste tire recycling could become Nexera’s new operating platform

If approved and implemented, the transformation would reposition Nexera from a conventional energy company into the tire recycling and resource recovery sector. The proposed model would depend on developing a commercially viable pyrolysis operation capable of securing end-of-life tire feedstock and generating marketable recovered products.

The announcement therefore marks an early corporate and regulatory step rather than the launch of a functioning tire pyrolysis facility. Further details on technology, production capacity, location, financing and recovered carbon and oil markets will be important in determining how the proposed business develops.

Original press release by Newsfile Corp.