12% unsecured debentures sold in units with 1,000 three-year warrants
By Devika Patel
Knoxville, Tenn., Aug. 6 – EmberClear Corp. said it completed a C$2 million initial tranche of a private placement of units. The deal priced for C$2 million with a 15% greenshoe on July 7 and is being conducted by agent Wolverton Securities Ltd. on a commercially reasonable-efforts basis.
The company sold 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.
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: | Aug. 6 (for C$2 million)
|
| Stock symbol: | TSX Venture: EMB
|
| Stock price: | C$0.12 at close July 4
|
| Market capitalization: | C$7.98 million
|
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