By Laura Lutz
Des Moines, Aug. 2 - Lignol Energy Corp. closed a private placement of shares for C$14.375 million, including a fully exercised greenshoe for C$1.875 million.
The company sold 11.5 million common shares at C$1.25 per share.
Haywood Securities Inc. was the lead agent.
Proceeds will be used for developing an industrial-scale commercial demonstration facility. The remainder will be used for general corporate purposes.
The deal is set to close July 23.
Vancouver, B.C.-based Lignol develops bio-refineries to produce fuel-grade ethanol and other biochemical co-products from cellulosic biomass feedstock.
| Issuer: | Lignol Energy Corp.
|
| Issue: | Stock
|
| Amount: | C$14.375 million
|
| Shares: | 11.5 million (including greenshoe for 1.5 million)
|
| Price: | C$1.25
|
| Warrants: | No
|
| Placement agent: | Haywood Securities Inc.
|
| Pricing date: | July 3
|
| Settlement date: | Aug. 2
|
| Stock symbol: | TSX Venture: LEC
|
| Stock price: | C$1.50 at close July 3
|
| Stock price: | C$1.25 at close Aug. 2
|
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