Non-brokered offering will finance development of energy projects
By Devika Patel
Knoxville, Tenn., April 14 - Run of River Power Inc. said it will raise C$1.5 million in a non-brokered private placement of units.
The company will sell 16,666,667 units at C$0.09 apiece. Each unit consists of one common share and one half-share warrant, with each warrant exercisable at C$0.12 for one year. The strike price reflects a 26.32% premium to the April 13 closing share price of C$0.095.
Settlement is expected April 20.
Proceeds will be used for development of the company's renewable energy projects and general working capital.
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$1.5 million
|
| Units: | 16,666,667
|
| Price: | C$0.09
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.12
|
| Agent: | Non-brokered
|
| Pricing date: | April 14
|
| Settlement date: | April 20
|
| Stock symbol: | TSX Venture: ROR
|
| Stock price: | C$0.09 at close April 14
|
| Market capitalization: | C$7.95 million
|
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