By Devika Patel
Knoxville, Tenn., Dec. 1 - Compliance Energy Corp. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell units at C$0.275 apiece. Each unit consists of one common share and one warrant, with each two-year warrant exercisable at C$0.40 in the first year and at C$0.50 thereafter.
Proceeds will be used for general working capital.
Compliance is a mining and power company based in Vancouver, B.C.
| Issuer: | Compliance Energy Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Price: | C$0.275
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year, C$0.50 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 1
|
| Stock symbol: | TSX Venture: CEC
|
| Stock price: | C$0.28 at close Nov. 30
|
| Market capitalization: | C$13.3 million
|
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