By Devika Patel
Knoxville, Tenn., Nov. 12 - Alter Nrg Corp. announced it has entered into an agreement with Coghill Capital Management, LLC for a C$10 million private placement of units.
The company will sell 4,405,286 units at C$2.27 apiece. Each unit will consist of one share and one half-share warrant. The whole warrants will be exercisable at C$2.27 until Dec. 3.
The proceeds will be used to fund ongoing project development and for working capital. Closing is expected on Nov. 16.
Alter Nrg, a Calgary, Alta.-based development-stage company, is pursuing alternative energy solutions to meet the demand for environmentally responsible energy in world markets.
| Issuer: | Alter Nrg Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 4,405,286
|
| Price: | C$2.27
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 3, 2007
|
| Warrant strike price: | C$2.27
|
| Investor: | Coghill Capital Management, LLC
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 16
|
| Stock symbol: | TSX Venture: NRG
|
| Stock price: | C$2.10 at close Nov. 9
|
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