New York, Feb. 7 - Finavera Renewables Inc. said it has agreed to sell up to 28,571,500 units at C$0.35 each for a total size of C$10 million.
Dundee Securities Corp. will lead the best efforts deal.
Each unit is made up of one common share and one warrant exercisable at C$0.55 for 24 months.
Proceeds will be used the Vancouver, B.C., company's wind and wave energy projects.
| Issuer: | Finavera Renewables Inc.
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| Issue: | Units of stock and warrants
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| Amount: | C$10 million
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| Units: | 28,571,500
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| Price: | C$0.35
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| Warrants: | One per unit
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| Warrant expiration: | 24 months
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| Warrant strike price: | C$0.55
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| Agent: | Dundee Securities Corp.
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| Pricing date: | Feb. 7
|
| Stock symbol: | TSX Venture: FVR
|
| Stock price: | C$0.60
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