By Sheri Kasprzak
New York, Feb. 1 - Altek Power Corp. said it has settled a non-brokered private placement for C$2,644,000.
The company issued 17,626,668 units at C$0.15 each to nine investors.
The units consist of one share and one warrant. The warrants are exercisable at C$0.35 each for two years.
Also, Altek announced that it has agreed to issue 2 million shares into escrow to repay debts owed to 520809 BC Ltd. The agreement will settle litigation between Altek and 520809 BC.
Based in Kelowna, B.C., Altek develops environmentally safe energy generation technologies.
| Issuer: | Altek Power Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2,644,000
|
| Units: | 17,626,668
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Placement agent: | Non-brokered
|
| Settlement date: | Jan. 31
|
| Stock symbol: | TSX Venture: APK
|
| Stock price: | C$0.18 at close Jan. 31
|
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