Non-brokered deal funds acquisition of 75.1% interest in Hans Binder
By Devika Patel
Knoxville, Tenn., June 15 - EnWave Corp. said it increased a non-brokered private placement of stock to C$6 million from C$4.5 million. The deal priced on Thursday.
The company will now sell 4 million common shares at C$1.50 per share. The price per share is identical to the June 13 closing share price.
Settlement is expected June 30.
Proceeds will be used to acquire a 75.1% controlling interest in Hans Binder Maschinenbau GmbH and for working capital and general corporate purposes.
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: | Common stock
|
| Amount: | C$6 million
|
| Shares: | 4 million
|
| Price: | C$1.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 14
|
| Upsized: | June 15
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: ENW
|
| Stock price: | C$1.50 at close June 13
|
| Market capitalization: | C$115.78 million
|
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