Deal funds Westinghouse Plasma Gasification expansion opportunities
By Devika Patel
Knoxville, Tenn., Jan. 31 - Alter Nrg Corp. said it settled an C$11.1 million private placement of stock.
The company sold 34,153,845 common shares at C$0.325 apiece. The price per share is an 18.75% discount to the Jan. 30 closing share price of C$0.40.
Investors were Ervington Investments Ltd., Zara Shvidler, Eturab Trade Corp. and CCM Master Qualified Fund, Ltd.
Proceeds will fund market expansion opportunities for the Westinghouse Plasma Gasification solution.
Alter Nrg, a Calgary, Alta.-based development-stage company, is pursuing alternative energy services to meet the demand for environmentally responsible energy in world markets.
| Issuer: | Alter Nrg Corp.
|
| Issue: | Common shares
|
| Amount: | C$11.1 million
|
| Shares: | 34,153,845
|
| Price: | C$0.325
|
| Warrants: | No
|
| Investor: | Ervington Investments Ltd., Zara Shvidler, Eturab Trade Corp. and CCM Master Qualified Fund, Ltd.
|
| Settlement date: | Jan. 31
|
| Stock symbol: | Toronto: NRG
|
| Stock price: | C$0.40 at close Jan. 30
|
| Market capitalization: | C$26.74 million
|
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