By Laura Lutz
Des Moines, June 8 - EnWave Corp. raised C$1,000,674 from a private placement of units.
The company sold 2,223,721 units of one share and one warrant at C$0.45 per unit. Each warrant will be exercisable at C$0.65 until June 6, 2008.
The placement was non-brokered.
Proceeds will be used for the company's radiant energy vacuum research projects and for working capital.
Vancouver, B.C.-based EnWave is focused on developing a new method for dehydrating biological materials.
| Issuer: | EnWave Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,000,674
|
| Units: | 2,223,721
|
| Price: | C$0.45
|
| Warrants: | One per unit
|
| Warrant expiration: | June 6, 2008
|
| Warrant strike price: | C$0.65
|
| Agent: | Non-brokered
|
| Settlement date: | June 8
|
| Stock symbol: | TSX Venture: ENW
|
| Stock price: | C$0.49 at close June 8
|
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