By Devika Patel
Knoxville, Tenn., Aug. 7 - Radiant Energy Corp. announced that it has completed a C$374,000 tranche of a C$1.33 million private placement of 12% secured debentures. The deal priced on July 31.
Radiant may pay the interest on the two-year debentures in common shares.
As a bonus, investors also received four common shares for every C$1.00 invested.
Proceeds will be used to address Radiant's immediate working capital needs.
Based in Port Colborne, Ont., Radiant produces an infrared pre-flight aircraft de-icing system.
| Issuer: | Radiant Energy Corp.
|
| Issue: | Secured debentures, 5.3 million common shares
|
| Amount: | C$1,325,000
|
| Maturity: | Two years
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Warrants: | No
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 7 (for C$374,000)
|
| Stock symbol: | TSX Venture: RDT
|
| Stock price: | C$0.03 at close July 31
|
| Market capitalization: | C$4.47 million
|
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