By Devika Patel
Knoxville, Tenn., Nov. 7 - Finavera Renewables Inc. priced a C$1 million non-brokered private placement of units.
The company will sell 20.04 million units at C$0.05 apiece. Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.10 for one year.
Proceeds will be used for development and general working capital.
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 half-share warrant
|
| Amount: | C$1,002,000
|
| Units: | 20.04 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 7
|
| Stock symbol: | TSX Venture: FVR
|
| Stock price: | C$0.075 at close Nov. 6
|
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