By Laura Lutz
Des Moines, April 11 - JER Envirotech International Corp. announced a private placement of units for up to C$5.1 million.
The company plans to sell up to 8.5 million units of one share and one half-share warrant at C$0.60 per unit. Each whole warrant will be exercisable at C$0.70 for one year.
MGI Securities Inc. will act as the lead agent.
Some of the proceeds will be used to market the company's JERtech wood-thermoplastic composite compounds and panel boards. The rest will be used for working capital.
Based in Vancouver, B.C., JER is a manufacturer of wood-plastic composite compounds and panel boards.
| Issuer: | JER Envirotech International Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | Up to C$5.1 million
|
| Units: | Up to 8.5 million
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.70
|
| Agent: | MGI Securities Inc.
|
| Pricing date: | April 11
|
| Stock symbol: | TSX Venture: JER
|
| Stock price: | C$0.65 at close April 11
|
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