By Marisa Wong
Milwaukee, Jan. 19 - EnWave Corp. announced that it has closed a C$3,499,999 brokered private placement of units.
EnWave sold 3,888,888 units at C$0.90 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$1.15 until Jan. 19, 2011.
Canaccord Financial Ltd. led the syndicate of underwriters for the offering, which also included Clarus Securities Inc.
Net proceeds of the private placement will be used for advancement of the company's research and development projects and for general working capital and corporate needs.
Based in Vancouver, B.C., EnWave is focused on the development of new methods of dehydrating food and biological materials using Radiant Energy Vacuum technology under its nutraREVR, powderREVR, bioREVR and freezeREVR brands.
| Issuer: | EnWave Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3,499,999
|
| Units: | 3,888,888
|
| Price: | C$0.90
|
| Warrants: | One-half share warrant per unit
|
| Warrant expiration: | Jan. 19, 2011
|
| Warrant strike price: | C$1.15
|
| Agents: | Canaccord Financial Ltd. (lead), Clarus Securities Inc.
|
| Settlement date: | Jan. 19
|
| Stock symbol: | TSX Venture: ENW
|
| Stock price: | C$1.18 at close Jan. 18
|
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