Funding slated for the Yabucoa project in Puerto Rico and acquisitions
By Susanna Moon
Chicago, Jan. 11 - Western Wind Energy Corp. said it arranged a $3.1 million non-brokered private placement of units.
The company will sell 1.55 million units of one share and one half-share warrant at C$2.00 each. Each warrant is exercisable at C$2.00 for two years. The unit price and strike price were equal to the company's closing price on Jan. 10.
PI financial Corp. received a finder's fee.
Proceeds will be for the Yabucoa project in Puerto Rico, future acquisitions and working capital.
Western Wind operates wind-energy electrical generation facilities and is based in Vancouver, B.C.
| Issuer: | Western Wind Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3.1 million
|
| Units: | 1.55 million
|
| Price: | C$2.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.00
|
| Pricing date: | Jan. 11
|
| Stock symbol: | Canada: WND
|
| Stock price: | C$2.00 at close Jan. 10
|
| Market capitalization: | C$116.64 million
|
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