By Sheri Kasprzak
New York, Jan. 5 - Hy-Drive Technologies Ltd. said it has concluded a private placement for C$5,084,215.
The company sold 7,944,087 shares at C$0.64 each to 19 investors.
The investors received warrants for 4,681,366 shares, exercisable at C$0.80 each for two years.
Capstone Investments and Octagon Capital Corp. were the placement agents.
Based in Toronto, Hy-Drive is an energy technology firm that has developed a hydrogen generating system used in combustion engines.
| Issuer: | Hy-Drive Technologies Ltd.
|
| Issue: | Stock
|
| Amount: | C$5,084,215
|
| Shares: | 7,944,087
|
| Price: | C$0.64
|
| Warrants: | For 4,681,366 shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80
|
| Placement agents: | Capstone Investments and Octagon Capital Corp.
|
| Settlement date: | Jan. 4
|
| Stock price: | C$0.95 at close Jan. 4
|
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