By Sheri Kasprzak
Atlanta, April 1 - Vector Wind Energy Inc. said it plans to raise up to C$6.25 million in a private placement.
The offering includes up to 5 million common share units at C$0.60 each and up to 5 million flow-through shares at C$0.65 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$0.75 each for two years.
The deal is expected to close April 19.
Fraser MacKenzie Ltd. is the placement agent.
In other news, Vector said it has granted 1.2 million stock options to directors and officers at C$0.70 each for five years.
Vector Wind, based in Ottawa, Ont., develops wind energy projects. The proceeds will be used for the development of the company's wind-energy projects in Canada and for general corporate purposes.
| Issuer: | Vector Wind Energy Inc.
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| Issue: | Flow-through shares and units of one share and one half-share warrant
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| Amount: | C$6.25 million
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| Placement agent: | Fraser MacKenzie Ltd.
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| Pricing date: | April 1
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| Settlement date: | April 19
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| Stock price: | C$0.68 at close April 1
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|
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| Flow-through shares
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| Issue: | Flow-through common shares
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| Shares: | 5 million (maximum)
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| Price: | C$0.65
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| Warrants: | No
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|
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| Units
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| Issue: | Units of one share and one half-share warrant
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| Units: | 5 million (maximum)
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| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | C$0.75
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| Warrant strike price: | Two years
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