By Devika Patel
Knoxville, Tenn., April 8 - Shear Wind Inc. said it will conduct a C$17 million private placement of units. The deal is being conducted by a syndicate of agents led by TD Securities Inc. and including Macquarie Capital Markets Canada Ltd. and Blackmont Capital Inc.
The company will sell units of one common share and one half-share warrant. Each whole warrant will be exercisable for two years.
Settlement is expected on April 30.
Proceeds will be used to finance initial project construction costs for the Glen Dhu Wind Park in Nova Scotia and for general corporate purposes.
Shear Wind, which has headquarters in Halifax, N.S., is engaged in the exploration and development of renewable energy.
| Issuer: | Shear Wind Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$17 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Agents: | TD Securities Inc. (lead), Macquarie Capital Markets Canada Ltd., Blackmont Capital Inc.
|
| Pricing date: | April 8
|
| Settlement date: | April 30
|
| Stock symbol: | TSX Venture: SWX
|
| Stock price: | C$0.80 at close April 7
|
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