By Devika Patel
Knoxville, Tenn., Aug. 22 - Radar Acquisitions Corp. said it completed a C$1.05 million non-brokered private placement of units. The deal priced for C$705,000 on July 29.
The company sold 4,762,500 units of one common share and one half-share warrant at C$0.22 apiece. Radar had planned to sell up to 3,204,545 units.
Each whole warrant will be exercisable at C$0.33 for one year.
Proceeds will be used for advancing projects for the Radar/New Energy USA, LLC, joint venture; continued lease maintenance and for general operating purposes.
Radar is a natural resource development company based in Calgary, Alta.
| Issuer: | Radar Acquisitions Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,047,750
|
| Units: | 4,762,500
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.33
|
| Agent: | Non-brokered
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 22
|
| Stock symbol: | TSX Venture: RAC
|
| Stock price: | C$0.20 at close July 29
|
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