Deal sells 18,598,500,000 subscription receipts at C$0.004 per receipt
By Devika Patel
Knoxville, Tenn., April 20 – Ram Power, Corp. said it has arranged a C$74.39 million private placement of subscription receipts.
The company will sell 18,598,500,000 subscription receipts at C$0.004 apiece. The purchase price is an 80% discount to C$0.02, the April 17 closing share price.
Each subscription receipt will be exchangeable for one a common share.
Settlement is expected by April 30.
Ram Power is a geothermal energy company based in Reno, Nev.
| Issuer: | Ram Power, Corp.
|
| Issue: | Subscription receipts
|
| Amount: | C$74,394,000
|
| Receipts: | 18,598,500,000
|
| Price: | C$0.004
|
| Warrants: | No
|
| Pricing date: | April 20
|
| Settlement: | April 30
|
| Stock symbol: | Toronto: RPG
|
| Stock price: | C$0.02 at close April 17
|
| Market capitalization: | C$3.71 million
|
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