Company sells units of common shares and warrants at C$1.00 apiece
By Devika Patel
Knoxville, Tenn., Nov. 30 - Western Wind Energy Corp. said it arranged a non-brokered private placement of units. It will raise C$2.3 million.
The company will sell 2.3 million units at C$1.00 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$1.25 for two years. The strike price is a 23.76% premium to the Nov. 29 closing share price of C$1.01.
Proceeds will be used for the legal and closing costs of a new credit facility.
Based in Vancouver, 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$2.3 million
|
| Units: | 2.3 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.25
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 30
|
| Stock symbol: | TSX Venture: WND
|
| Stock price: | C$1.06 at close Nov. 30
|
| Market capitalization: | C$55.76 million
|
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