By Devika Patel
Knoxville, Tenn., Oct. 19 - Nuvolt Corp. announced it completed a second tranche of a C$1.78 million non-brokered private placement of units, raising C$200,050. The deal priced July 30, and the company took in C$1.39 million in the first tranche on Sept. 4.
The company is selling 11,833,333 units at C$0.15 apiece. It sold 9,266,666 units in the first tranche and 1,333,667 units in this one.
The units consist of one common share and one warrant. Each warrant will be exercisable at C$0.15 for three years.
Proceeds will be used for general corporate purposes.
Settlement of the final tranche is expected Nov. 30.
Based in Levis, Quebec, Nuvolt designs and markets equipment monitoring systems and electrical network management for the industrial, commercial and agricultural sectors.
| Issuer: | Nuvolt Corp.
|
| Issue: | Units of one common share and warrant
|
| Amount: | C$1,775,000
|
| Units: | 11,833,333
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | July 30
|
| Settlement dates: | Sept. 4 (for C$1.39 million), Oct. 19 (for C$200,050), Nov. 30
|
| Stock symbol: | TSX Venture: NCO
|
| Stock price: | C$0.05 at close July 29
|
| Market capitalization: | C$5.28 million
|
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