Non-brokered deal offers units with half-share warrants at C$0.25 each
By Devika Patel
Knoxville, Tenn., April 2 - QSolar Ltd. said it raised C$320,500 in the first tranche of a C$1 million non-brokered private placement of units. The deal priced on March 7.
The company is selling 4 million units of one common share and one half-share warrant at C$0.25 per unit. It sold 1,282,000 units in the initial tranche.
Each whole warrant will be exercisable at C$0.40 for two years. The strike price is a 14.29% premium to C$0.35, the March 6 closing share price.
Proceeds will be used for general corporate purposes.
QSolar is a solar energy company based in Calgary, Alta., that designs, develops, manufactures and sells photovoltaic modules.
| Issuer: | QSolar Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | March 7
|
| Settlement date: | April 2 (for C$320,500)
|
| Stock symbol: | CNSX: QSL
|
| Stock price: | C$0.35 at close March 6
|
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