By Devika Patel
Knoxville, Tenn., Jan. 29 - Radiant Energy Corp. said it plans to raise C$3.5 million in a private placement of units.
The company intends to sell up to 29,166,666 units of one share and one half-share warrant at C$0.12 per unit. Each whole warrant will be exercisable at C$0.30 for 18 months.
If the company's common shares close higher than C$0.40 for 20 consecutive trading days, the warrants may expire 30 days after the company notifies holders.
Brant Securities Ltd. will be paid an 8% cash commission and will also receive a number of broker warrants equal to 8% of the number of units sold. These warrants are exercisable into units at C$0.12 for 18 months.
Based in Port Colborne, Ont., Radiant produces an infrared pre-flight aircraft de-icing system.
| Issuer: | Radiant Energy Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.5 million
|
| Units: | 29,166,666
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Fees: | 8% in cash and warrants
|
| Pricing date: | Jan. 29
|
| Stock symbol: | TSX Venture: RDT
|
| Stock price: | C$0.14 at close Jan. 28
|
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