By Devika Patel
Knoxville, Tenn., Sept. 4 - Nuvolt Corp. announced it completed the first tranche of a C$1.78 million non-brokered private placement of units, raising C$1.39 million. The deal priced July 30.
The company is selling 11,833,333 units at C$0.15 apiece. It sold 9,266,666 units in this tranche.
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 specializes in designing and marketing equipment monitoring systems and electrical network management for the industrial, commercial and agricultural sectors.
| Issuer: | Nuvolt Corp.
|
| Issue: | Units of one common share and warrant
|
| Amount: | C$1,775,000
|
| Units: | 11,833,333
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | July 30
|
| Settlement date: | Sept. 4 (for C$1.39 million)
|
| Stock symbol: | TSX Venture: NCO
|
| Stock price: | C$0.05 at close July 29
|
| Market capitalization: | C$5.81 million
|
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