By Devika Patel
Knoxville, Tenn., July 24 - Run of River Power Inc. said it has arranged a C$1 million non-brokered private placement of units.
The company will sell 5.9 million units at C$0.17 each. The units consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.26 for two years.
Proceeds will be used for the continued development of the company's renewable energy projects and for general working capital purposes.
Vancouver, B.C.-based Run of River develops hydroelectric power generation projects in British Columbia.
| Issuer: | Run of River Power Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 5.9 million
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.26
|
| Agents: | Non-brokered
|
| Pricing date: | July 24
|
| Stock symbol: | TSX Venture: ROR
|
| Stock price: | C$0.165 at close July 23
|
| Market capitalization: | C$10.8 million
|
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