By Sheri Kasprzak
Atlanta, April 20 - Plasma Environmental Technologies Inc. said it plans to raise up to C$1.25 million in a private placement.
The offering includes up to 2,083,333 flow-through units at C$0.12 each and 10 million non flow-through units at C$0.10 each.
The flow-through units are comprised of one flow-through share and one half-share warrant. The whole warrants allow for an additional common share at C$0.15 each for 16 months.
The common-share units include one common share and one half-share warrant. The whole warrants allow for an additional share at C$0.15 each for 16 months.
The expiry of the warrants will be accelerated to 30 days if the company's closing price exceeds C$0.30 for 20 consecutive trading days.
Canaccord Capital Corp. is the placement agent in the deal.
In other news, Plasma also received short-term loans for C$150,000. The loans bear interest at 12% annually and mature July 12, 2005.
Based in Toronto, Plasma manufactures plasma-based methods for destroying hazardous waste.
| Issuer: | Plasma Environmental Technologies Inc.
|
| Issue: | Flow-through units and non flow-through units of one share and one half-share warrant
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| Amount: | C$1.25 million
|
| Placement agent: | Canaccord Capital Corp.
|
| Pricing date: | April 20
|
| Stock price: | C$0.085 at close April 20
|
|
|
| Flow-through units
|
| Issue: | Flow-through units of one flow-through share and one half-share warrant
|
| Units: | 2,083,333
|
| Price: | C$0.12
|
| Warrants: | One half flow-through share warrant per unit
|
| Warrant expiration: | 16 months
|
| Warrant strike price: | C$0.15
|
|
|
| Common-share units
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| Issue: | Common-share units of one share and one half-share warrant
|
| Units: | 10 million
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| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 16 months
|
| Warrant strike price: | C$0.15
|
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