By Devika Patel
Knoxville, Tenn., June 4 - Universal Power Corp. said it plans to conduct a C$2.8 million non-brokered private placement of units.
The company will sell 8 million units of one common share and one half-share warrant at C$0.35 apiece. Each whole warrant will be exercisable at C$0.50 for two years.
Proceeds will be used for exploration and general working capital.
Based in Vancouver, B.C., Universal Power is an energy company.
Issuer: | Universal Power Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$2.8 million
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Units: | 8 million
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Price: | C$0.35
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.50
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Agent: | Non-brokered
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Pricing date: | June 4
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Stock symbol: | TSX Venture: UNX
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Stock price: | C$0.38 at close June 3
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