By Devika Patel
Knoxville, Tenn., July 30 - Nuvolt Corp. announced it plans a C$1.78 million non-brokered private placement of units.
The company will sell 11,833,333 units at C$0.15 apiece. The units consist of one common share and one warrant. Each warrant will be exercisable at C$0.15 for three years.
Proceeds will be used for general corporate purposes.
Based in Levis, Quebec, Nuvolt specialises in designing and marketing equipment monitoring systems and electrical network management for the industrial, commercial and agricultural sectors.
Issuer: | Nuvolt Corp.
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Issue: | Units of one common share and warrant
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Amount: | C$1,775,000
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Units: | 11,833,333
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Price: | C$0.15
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Warrants: | One warrant per unit
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Warrant expiration: | Three years
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Warrant strike price: | C$0.15
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Agent: | Non-brokered
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Pricing date: | July 30
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Stock symbol: | TSX Venture: NCO
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Stock price: | C$0.05 at close July 29
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Market capitalization: | C$3.7 million
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