New Issue: AAER agrees to C$5 million private placement of shares

By Devika Patel

Knoxville, Tenn., Sept. 18 - AAER Inc. said it has entered into an agreement with SkyPower Corp. to raise C$5 million in a private placement of stock. Following this deal, Sky Power will own a 20.9% equity stake in AAER.

SkyPower has subscribed for 14,285,714 shares at C$0.35 apiece.

AAER is a wind-turbine manufacturer in Bromont, Quebec.

Issuer:	AAER Inc.
Issue:	Flow-through shares
Amount:	C$5 million
Shares:	14,285,714
Price:	C$0.35
Warrants:	No
Investor:	SkyPower Corp.
Pricing date:	Sept. 18
Stock symbol:	TSX Venture: AAE
Stock price:	C$0.395 at close Sept. 17

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