New Issue: Finavera prices C$2 million placement of units, cancels C$23 million sale

By Devika Patel

Knoxville, Tenn., Dec. 7 - Finavera Renewables Inc. will raise between C$1.1 million and C$2 million in a non-brokered private placement of units. It also said it was canceling another brokered C$23 million deal it announced on Oct. 23.

The company will sell between 11 million and 20 million units at C$0.10 apiece. Each unit will consist of one common share and one warrant, with each warrant exercisable at C$0.15 for one year.

Based in Vancouver, B.C., Finavera develops projects and technology in the clean renewable energy sector.

Issuer:	Finavera Renewables Inc.
Issue:	Units of one common share and one warrant
Amount:	C$1.1 million (minimum), C$2 million (maximum)
Units:	11 million (minimum), 20 million (maximum)
Price:	C$0.10
Warrants:	One warrant per unit
Warrant expiration:	One year
Warrant strike price:	C$0.15
Agent:	Non-brokered
Pricing date:	Dec. 7
Stock symbol:	TSX Venture: FVR
Stock price:	C$0.135 at close Dec. 7

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