By Sheri Kasprzak
Atlanta, April 7 - Coast Mountain Power Corp. said it plans to raise up to C$1.35 million in a private placement.
The offering includes up to 1 million units at C$1.35 each.
The units are comprised of one share and one half-share warrant. The full warrants allow for an additional share at C$1.75 each for one year.
Based in Vancouver, B.C., Coast Mountain operates the Coast Mountain Hydro Corp., a company focused on the development of the Forrest Kerr Hydroelectric project on the Iskut River. The proceeds will be used for costs related to the construction of the Forrest Kerr project.
| Issuer: | Coast Mountain Power Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.35 million (maximum)
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| Units: | 1 million (maximum)
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| Price: | C$1.35
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.75
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| Pricing date: | April 6
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| Stock price: | C$1.45 at close April 6
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