I2BF Global Ventures, Arbat Capital Group buy shares at C$0.38 apiece
By Devika Patel
Knoxville, Tenn., July 24 - Nesscap Energy Inc. said it settled an C$8.72 million private placement of stock with I2BF Global Ventures and Arbat Capital Group.
The company sold 22,934,342 common shares at C$0.38 per share. The price per share is a 442.86% premium to the July 23 closing share price of C$0.07.
I2BF bought 10,792,632 shares for C$4.1 million and Arbat Capital bought 12,141,710 shares for C$4.61 million.
Proceeds will be used to expand Nesscap's operations in South Korea.
Based in Toronto, Nesscap's products are used to replace or enhance the performance of energy and power needs for modern applications ranging from portable electronic devices to high-tech 'green' cars and are available in both cells and modules.
| Issuer: | Nesscap Energy Inc.
|
| Issue: | Common shares
|
| Amount: | C$8,715,050
|
| Shares: | 22,934,342
|
| Price: | C$0.38
|
| Warrants: | No
|
| Investors: | I2BF Global Ventures (for C$4,101,200) and Arbat Capital Group (for C$4,613,850)
|
| Settlement date: | July 24
|
| Stock symbol: | TSX Venture: NCE
|
| Stock price: | C$0.07 at close July 23
|
| Market capitalization: | C$20.05 million
|
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