By Devika Patel
Knoxville, Tenn., March 28 - Sofame Technologies Inc. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell 6,557,377 units of one share and one half-share warrant at C$0.305 per unit. Each whole warrant will be exercisable at C$0.50 for one year.
Settlement is expected on April 4.
Proceeds will be used fund the expansion of Sofame's business activities in France and the European community, as well as for working capital, marketing and other corporate purposes.
Montreal-based Sofame designs, engineers and manufactures energy-efficient direct contact water heating and heat recovery systems.
| Issuer: | Sofame Technologies Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 6,557,377
|
| Price: | C$0.305
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | March 28
|
| Settlement date: | April 4
|
| Stock symbol: | TSX Venture: SDW
|
| Stock price: | C$0.375 at close March 28
|
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