By Sheri Kasprzak
Atlanta, Jan. 19 - Nevada Geothermal Power Inc. will raise up to C$2,275,000 in a private placement of units, the company said.
The offering includes up to 3.5 million units at C$0.65 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$1 for two years.
Dundee Securities Corp. is the placement agent in the transaction.
Based in Vancouver, B.C., Nevada Geothermal is an alternative renewable energy company with geothermal projects in the western United States. The company plans to use the proceeds for development at its Blue Mountain, Nev., geothermal project and for general working capital.
| Issuer: | Nevada Geothermal Power Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2,275,000
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| Units: | 3.5 million
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| Price: | C$0.65
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.00
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| Placement agent: | Dundee Securities Corp.
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| Pricing date: | Jan. 19
|
| Stock price: | C$0.63 at close Jan. 18
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