Valoe issues notes, warrants to Winance, converts additional portion

By Sarah Lizee

Olympia, Wash., June 1 – Valoe Corp. has withdrawn its second convertible notes tranche of €250,000 and issued to Winance 250 convertible notes and 833,333 warrants in total, according to a news release on Monday.

The withdrawal was made under the terms and conditions of a financing arrangement between Valoe and Winance announced on April 22.

Also, the company has resolved to approve the request of Winance to convert a proportion of €47,000 of the convertible notes to the shares in the company at conversion price of €0.05 per share. The conversion will be executed by transferring a total of 940,000 treasury shares to Winance. After the transfer, the company will have in total 7,740,616 treasury shares.

Based in Mikkeli, Finland, Valoe specializes in clean energy, especially in photovoltaic technology.

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