By Laura Lutz
Des Moines, Aug. 15 - AAER Inc. raised C$2,028,900 from the first tranche of a private placement of units that is expected to raise up to C$8 million.
The placement has a minimum size of C$5 million.
In total, the company plans to sell up to 22,857,143 units of one share and one warrant at C$0.35 per unit. Each warrant will be exercisable at C$0.60 for five years.
The first tranche consisted of 5,796,857 units.
Canaccord Capital Corp. is the agent for most of the offering, including the first tranche. Some of the deal also may be non-brokered.
Proceeds will be used for the acquisition of moveable assets and for working capital and general corporate purposes.
AAER is a wind-turbine manufacturer in Bromont, Quebec.
| Issuer: | AAER Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$8 million (maximum); C$5 million (minimum)
|
| Units: | 22,857,143
|
| Price: | C$0.35
|
| Warrants: | One per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.60
|
| Agent: | Canaccord Capital Corp. for part; non-brokered for part
|
| Pricing date: | July 23
|
| Settlement date: | Aug. 15 (for C$2,028,900)
|
| Stock symbol: | TSX Venture: AAE
|
| Stock price: | C$0.37 at close July 23
|
| Stock price: | C$0.39 at close Aug. 15
|
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