Eco-Shift Power hires agent for $7 million private placement of stock

Company also to sell $500,000 of 18-month convertible promissory notes

By Devika Patel

Knoxville, Tenn., May 30 - Eco-Shift Power Corp. negotiated a placement agency agreement with WestPark Capital, Inc. for a $7 million private placement of stock and warrants on May 20, according to an 8-K filed Friday with the Securities and Exchange Commission. The agent will also sell up to $500,000 of 18-month convertible promissory notes.

The deal will be conducted on a commercially reasonable-efforts basis.

The Cambridge, Ont., company sells and distributes specialty, energy efficient lighting products.

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