By Devika Patel
Knoxville, Tenn., Feb. 4 - Finavera Renewables Inc. priced a C$2 million non-brokered private placement of units.
The company will sell up to 10 million units at C$0.20 apiece. Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.25 for two years.
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.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$2 million
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Units: | 10 million
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Price: | C$0.20
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.25
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Agent: | Non-brokered
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Pricing date: | Feb. 4
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Stock symbol: | TSX Venture: FVR
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Stock price: | C$0.24 at close Feb. 1
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