By Devika Patel
Knoxville, Tenn., June 15 - Nuvolt Corp. said it plans a C$3 million private placement of units. There is a C$1.5 million greenshoe.
The company will sell 30 million units at C$0.10 apiece on a best-efforts basis. Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable at C$0.20 for three years.
Capital MLB Inc. will invest C$500,000.
Northern Securities Inc. is the agent.
Proceeds will be used to launch the commercialization of Smartscan, as well as for working capital.
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 a half-share warrant
|
| Amount: | C$3 million
|
| Greenshoe: | C$1.5 million
|
| Units: | 30 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.20
|
| Agent: | Northern Securities Inc.
|
| Investor: | Capital MLB Inc. (for C$500,000)
|
| Pricing date: | June 15
|
| Stock symbol: | TSX Venture: NCO
|
| Stock price: | C$0.10 at close June 14
|
| Market capitalization: | C$7.94 million
|
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