By Devika Patel
Knoxville, Tenn., Oct. 14 - ERA Carbon Offsets Ltd. said it plans a C$5.52 million non-brokered private placement of stock.
The company will sell 7.36 million common shares at C$0.75 apiece to a large German energy company.
Proceeds will be used for general working capital.
Vancouver, B.C.-based ERA Carbon Offsets produces significant, measurable carbon sequestration benefits that are validated and verified to international standards and sold to purchasers interested in offsetting their greenhouse gas footprints to mitigate the effects of climate change.
| Issuer: | ERA Carbon Offsets Ltd.
|
| Issue: | Common shares
|
| Amount: | C$5.52 million
|
| Shares: | 7.36 million
|
| Price: | C$0.75
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 14
|
| Stock symbol: | TSX Venture: ESR
|
| Stock price: | C$0.80 at close Oct. 13
|
| Market capitalization: | C$12 million
|
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