By Devika Patel
Knoxville, Tenn., Oct. 3 - Western Wind Energy Corp. announced it has negotiated a non-brokered C$2.8 million private placement of units.
The company will sell 2,000,000 units of one common share and one half-share warrant at C$1.40 per unit. Each whole warrant will be exercisable at C$1.75 for two years.
Loewen, Ondaatje, and McCutcheon Ltd. and Ascenta Finance Corp. will be the corporation's financial advisers for this deal.
Proceeds will be used for development.
Based in Coquitlam, B.C., Western Wind operates wind-energy electrical generation facilities.
| Issuer: | Western Wind Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.8 million
|
| Units: | 2,000,000
|
| Price: | C$1.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.75
|
| Advisers: | Loewen, Ondaatje, and McCutcheon Ltd. and Ascenta Finance Corp.
|
| Fees: | C$160,000; broker options exercisable for 571,428 units
|
| Pricing date: | Oct. 2
|
| Stock symbol: | TSX Venture: WND
|
| Stock price: | C$1.74 at close Oct. 2
|
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