By Sheri Kasprzak
Atlanta, May 26 - Environmental Applied Research Technology House Corp. (Earth) said it has arranged a private placement of units for at least C$6.0 million and up to C$8.5 million.
The deal includes up to 85 million units and a minimum of 60 million units at C$0.10 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.13 each through Nov. 2, 2009.
Quest Securities Corp. is the placement agent.
Based in Montreal, Earth extracts hydrocarbons from upstream oil- and gas-produced water. The proceeds will be used for commercialization, research, development and working capital.
| Issuer: | Environmental Applied Research Technology House Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$8.5 million (maximum); C$6 million (minimum)
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| Units: | 85 million (maximum); 60 million (minimum)
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| Price: | C$0.10
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| Warrants: | One warrant per unit
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| Warrant expiration: | Nov. 2, 2009
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| Warrant strike price: | C$0.13
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| Placement agent: | Quest Securities Corp.
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| Pricing date: | May 26
|
| Stock price: | C$0.125 at close May 26
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