12% unsecured debentures sold in units with 1,000 three-year warrants
By Devika Patel
Knoxville, Tenn., July 7 – EmberClear Corp. said it will conduct a C$2 million private placement of units with a 15% greenshoe. Agent Wolverton Securities Ltd. will conduct the deal on a commercially reasonable efforts basis.
The company will sell 2,000 units at C$1,000.00 per unit. The units each consist of one C$1,000.00 12% unsecured debenture and 1,000 warrants.
The debentures are due in 18 months. The company may redeem the debentures at 103.
The three-year warrants are exercisable at C$0.20, a 66.67% premium to the closing share price of C$0.12 on July 4.
Settlement is expected July 30.
Proceeds will be used for general corporate purposes.
EmberClear is a Calgary, Alta.-based clean energy technology company.
| Issuer: | EmberClear Corp.
|
| Issue: | Units of C$1,000.00 in unsecured debentures and 1,000 warrants
|
| Amount: | C$2 million
|
| Greenshoe: | 15%
|
| Units: | 2,000
|
| Price: | C$1,000.00
|
| Maturity: | 18 months
|
| Coupon: | 12%
|
| Call: | At 103
|
| Warrants: | 1,000 warrants per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.20
|
| Agent: | Wolverton Securities Ltd.
|
| Pricing date: | July 7
|
| Settlement date: | July 30
|
| Stock symbol: | TSX Venture: EMB
|
| Stock price: | C$0.12 at close July 4
|
| Market capitalization: | C$10.88 million
|
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