Deal sells 18 million units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., July 21 – NaiKun Wind Energy Group Inc. said on Wednesday that it plans a C$1.26 million non-brokered private placement of units.
The company will sell 18 million units of one common share and one half-share warrant at C$0.07 per unit.
Each whole warrant is exercisable at C$0.15 for three years. The strike price is an 87.5% premium to the July 19 closing share price of C$0.08.
Settlement is expected Sept. 2.
Proceeds will be used for design and costing work for larger wind turbines, advancing the NaiKun wind project, consultation with First Nations, development permits and general corporate purposes.
NaiKun is a renewable energy company based in Vancouver, B.C.
| Issuer: | NaiKun Wind Energy Group Inc.
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| Issue: | Units of one common share and a half-share warrant
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| Amount: | C$1.26 million
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| Units: | 18 million
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| Price: | C$0.07
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.15
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| Agent: | Non-brokered
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| Pricing date: | July 20
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| Settlement date: | Sept. 2
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| Stock symbol: | TSX Venture: NKW
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| Stock price: | C$0.08 at close July 19
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| Market capitalization: | C$4.65 million
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