Company sells flow-through shares to finance wind project development
By Devika Patel
Knoxville, Tenn., March 11 - Finavera Wind Energy Inc. said it priced a private placement of stock. The C$5 million was announced March 8.
The company will sell flow-through shares at C$0.94 apiece. The price per share is a 6.82% premium to the March 10 closing share price of C$0.88.
NCP Northland Capital Partners Inc. will be the lead agent in a syndicate that includes Versant Partners Inc.; Macquarie Private Wealth Inc. is also participating in the placement as a special selling group member.
Proceeds will be used for development of the company's portfolio of wind projects in British Columbia.
Finavera is a wind energy development company based in Vancouver, B.C.
| Issuer: | Finavera Wind Energy Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$5 million
|
| Price: | C$0.94
|
| Warrants: | No
|
| Agents: | NCP Northland Capital Partners Inc. (lead), Versant Partners Inc.
|
| Announcement date: | March 8
|
| Pricing date: | March 11
|
| Stock symbol: | TSX Venture: FVR
|
| Stock price: | C$0.87 at close March 11
|
| Market capitalization: | C$26.45 million
|
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